Investors Slam Apple's New iPhones

iphone 5c

Apple Inc’s new iPhones got panned by Wall Street on Wednesday as investors decried one model for being too costly for emerging markets and dismissed the other model as lacking enough game-changing features.
It seems Apple's focus is on western and European markets, the world’s most valuable technology company missed an opportunity to introduce a low-end smartphone to drive sales in Asia, where Samsung Electronics and China’s Huawei have a wide lead over Apple, also in Africa where Samsung and blackberry devices are in the lead.

The plastic iPhone 5C unveiled on Tuesday will sell for $730 (N116,800) in China, Apple said. Not sure how much it will sell in African markets but that's more than the average monthly income in Nigeria.

Investors were put off that Apple’s price point didn’t go low enough to attract a new market.

The high-end iPhone 5S disappointed Wall Street and revived fears that Apple’s most innovative days may be behind it. The phone has a fingerprint scanner to improve security, but analysts said that was not likely to be enough to make the iPhone 5S a sure win in the crowded smartphone market.

Touch ID

The iPhone 5C carries a total component cost of $165, versus the $199 of the last-generation iPhone 5 and $236 for Samsung’s top-tier Galaxy S4 smartphone, according to preliminary estimates – suggesting there is room to cut prices if warranted.

Definitely there's enough room to cut prices. Would you spend N120,000 to buy the new iphone?