Will Agressive iPhone 12 Pricing Kill Apple's Prospects in This Market?
Apple's (NASDAQ: AAPL) latest-generation iPhone 12 seems to have struck the right chord with customers, according to reports about the initial response to the specs on new devices.
Noted Apple analyst Ming-Chi Kuo estimates that iPhone 12 preorders are more than double iPhone 11 levels (only two of the four iPhone 12 phones are currently available for preorder). He predicts that 1.7 million to 2 million devices had been preordered in the first 24 hours, compared to 500,000 to 800,000 iPhone 11 devices in the same period last year.
While that's great news for Apple and a testament to the company's aggressive pricing of the 5G iPhone line-up, there's one crucial market where the new smartphones are priced exorbitantly: India. That doesn't bode well for Apple, especially as its prospects were looking up in India of late.
Source Fool.com
