Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Apple    AAPL

APPLE

(AAPL)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Apple cuts some iPhone prices to retain edge

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/11/2019 | 07:30pm EDT

Customers check out products at an Apple store in Shenzhen, Guangdong province. [Photo provided to China Daily]

Firm looks to stay ahead of competition by making flagship devices affordable

Apple Inc has slashed the price of some its iPhone models by up to about 800 yuan ($118) for its channel partners in China after the United States tech giant lowered its revenue forecast partly due to a weak performance in the country.

JD, a major e-commerce platform in China, said it has received notice from Apple that the price of the iPhone 8 and iPhone 8 Plus will be reduced to 3,999 yuan and 4,799 yuan respectively, about 600 yuan and 800 yuan less than before.

JD said the price cut became effective on Friday and it is not a short-term promotion.

Suning, another online platform in the country, also said on Friday that it has considerably cut the price of the iPhone XR and iPhone X. The 128 gigabyte version of the iPhone XR, for instance, is now sold at 5,799 yuan, about 1,200 yuan less than the price on Apple's official online store.

The move came shortly after Apple slashed its revenue guidance to $84 billion for the quarter ended Dec 29, down from earlier estimates of $89 billion to $93 billion. This is Apple's first revenue forecast cut in almost two decades.

Tim Cook, CEO of Apple, has attributed the decline to a variety of factors including weakening demand from China and lower-than-expected sales of iPhones. But analysts said the real reason could be the mounting competition from local rivals such as Huawei Technologies Co Ltd.

Jia Mo, a research analyst with technology consultancy Canalys, said the high price tag of Apple's latest handset risks losing mass-market consumers to local smartphone vendors and making the California-based company a niche luxury brand in China.

"In China, it is always the most expensive iPhone model that sells the best. But less-expensive models or older models are losing to local brands' quality smartphones," Jia added.

According to him, Apple can maintain its brand appeal among its hard-core fans, and dominate the most high-end segment of smartphones priced above 6,000 yuan, but its popularity among mass-market consumers is likely to be reduced.

The global smartphone market is contracting, with worldwide smartphone shipments declining by 6 percent year-on-year in the third quarter of 2018, marking the fourth straight quarter of drops, according to data from market research company International Data Corp.

Investment bank JPMorgan research also indicated a sharp deterioration in China's smartphone demand in the fourth quarter of 2018, and said it expects 2019 to be another tough year for companies.

Fan Feifei contributed to this story.

(c) 2019 China Daily Information Company. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on APPLE
07/21Read Receipts Ruined Messaging. Here's How To Turn Them Off.
DJ
07/19TAKE FIVE : Preparing for a prime minister, PMIs and policymakers
RE
07/19Russian lawmakers propose making local software mandatory on smartphones
RE
07/19APPLE : World leaders, Apple CEO offer tributes to Japanese studio after attack
AQ
07/19Netflix sinks on subscriber losses, analysts still see growth
RE
07/19BMW Picks Production Chief as Next Top Executive -- WSJ
DJ
07/19Qualcomm Incurs Another EU Fine -- WSJ
DJ
07/18Ailing BMW Appoints Production Chief Zipse as Next CEO
DJ
07/18Netflix sinks on subscriber losses, analysts still see growth
RE
07/18EU Commission fines Qualcomm for second time over market abuse
RE
More news
Financials (USD)
Sales 2019 257 B
EBIT 2019 62 389 M
Net income 2019 53 335 M
Finance 2019 101 B
Yield 2019 1,47%
P/E ratio 2019 17,7x
P/E ratio 2020 16,0x
EV / Sales2019 3,24x
EV / Sales2020 3,15x
Capitalization 932 B
Chart APPLE
Duration : Period :
Apple Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends APPLE
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 44
Average target price 212,51  $
Last Close Price 202,59  $
Spread / Highest target 23,4%
Spread / Average Target 4,90%
Spread / Lowest Target -26,0%
EPS Revisions
Managers
NameTitle
Timothy Donald Cook Chief Executive Officer & Director
Arthur D. Levinson Chairman
Jeffrey E. Williams Chief Operating Officer
Luca Maestri Chief Financial Officer & Senior Vice President
Kevin M. Lynch Vice President-Technology
Sector and Competitors
1st jan.Capitalization (M$)
APPLE28.43%932 132
SAMSUNG ELECTRONICS CO LTD--.--%264 975
XIAOMI CORP--.--%27 945
WINGTECH TECHNOLOGY CO LTD69.90%3 330
FITBIT INC-12.88%1 104
MERRY ELECTRONICS CO LTD--.--%1 069