APPLE shares slumped yesterday after investors raised concerns that a new cut-price iPhone model is not cheap enough to boost the company's market share in developing economies.
But brokers raised concerns that the 5C is still too pricey. The model will sell for
Shares in the technology company closed down 5.4 per cent at
"Rather than offer attractive pricing for consumers, and move the iPhone 5C into a new and growing price segment, Apple retained a premium pricing strategy in targeting the
"This decision, at the margin, is good for profitability but not growth."
Cheaper handsets running the open source Android operating system and local variants have come to dominate
Apple also announced the iPhone 5S, which will succeed the existing iPhone 5 model and includes a fingerprint recognition feature.
Both phones will go on sale in the
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