Google Inc (NASDAQ:GOOGL)’s Android is by far the market leader in the Chinese smartphone market. Apple Inc. (NASDAQ:AAPL) doesn’t even comes close to the kind of market share that Android commands in China, but the company has high hopes for its new iPhone 6 and iPhone 6 Plus that it will be releasing soon in the Chinese Market. Apple Inc. (NASDAQ:AAPL) announced in a press release today that its new iPhones will start retailing in the China from October 17.
Although Android is numero uno when it comes to overall smartphone market in China, Apple Inc. (NASDAQ:AAPL)’s iPhone boasts of considerable market share in the ‘premium’ category of smartphones. Like elsewhere in the world, the Chinese upper middle class and elite are the main customers of iPhone in China and that’s where Apple Inc. (NASDAQ:AAPL) wants to dominate. In recent years, thanks to the open-source nature of Android and the low cost manufacturing capabilities of the Chinese, the smartphone manufacturers in China have been able to come up with feature laden smartphones at a fraction of the price of an iPhone, but one thing they can’t match up to is the brand power of Apple Inc. (NASDAQ:AAPL).
Apple Inc. (NASDAQ:AAPL) revealed in its newsletter that the iPhones would be available for buying beginning October 17 from Apple Inc. (NASDAQ:AAPL)’s online store, company’s retail stores, Apple Inc. (NASDAQ:AAPL)‘s resellers and other retailers. The iPhone 6 and iPhone 6 Plus will be also available through outlets of China’s three major mobile carriers – China Mobile, China Telecom and China Unicom. The basic model (16 gb) of the iPhone 6 and iPhone 6 Plus will retail in China for 5,288 RMB and 6,088 RMB, respectively.
As of June 30, 2014, Carl Icahn’s Icahn Capital LP owns over 52 million shares of Apple Inc. (NASDAQ:AAPL) and Ken Fisher’s Fisher Asset Management owns over 700,000 shares of Google Inc (NASDAQ:GOOGL).
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