Early this week apple launched the iPhone 5s and iPhone 5c, and the latter model was rumored to be Apple’s solution to penetrate the merging markets like Africa, China and India.
But most people were left disappointed as, iPhone 5c’s costs over $700 for a 16 gigabyte version, this cannot fly for the emerging
Markets. Most Smartphone users in Africa alone end up opting for entry level Samsung, ZTE and Huawei phones because they hit the right price point.
“Investors were put off that Apple’s price point didn’t go low enough to attract a new market,” said Mark Luschini, chief investment strategist at Janney Montgomery Scott.
“It doesn’t have the same range in price that Apple’s competitors have,” he added.According to BBC, Apple’s shares fell more than 5% as investors worried that the firm’s latest iPhone models may not help it increase its share in emerging markets.
The iPhone maker needs to get out of its cocoon and tap into these merging markets.