New iPhones fail to impress markets, analysts
NEW YORK (AFP) - Apple's launch of two new iPhones raised fresh doubts Wednesday about its strategy to expand its smartphone market share, prompting a slide in the company's shares and harsh analyst comments.
Some analysts said Apple had failed to slash prices enough to make an impact in key emerging markets or with budget-conscious buyers, and did little to show it has regained its edge in innovation.
Shares slid 5.4 per cent to end at US$467.71 in New York, a day after the technology giant presented the two new iPhones as part of an effort to regain momentum in the smartphone market.
While the new iPhone 5C is being offered to US customers at US$99 with a subsidized carrier contract, the unsubsidised price will be US$549 in the United States, and more than US$700 in China.