Chinese Consumers Really Want iPhone X, but Can They Afford It?

Apple's (NASDAQ: AAPL) business in China has languished in recent years following many years of strong growth. Local smartphone manufacturers continue to chip away at Apple's market share, thanks largely to lower prices. The company's Greater China segment is often a soft spot in quarterly earnings releases these days.

Before the official unveiling, Morgan Stanley analyst Katy Huberty went as far as to predict that the high price tag would help Apple's financial performance in the Middle Kingdom, hypothesizing that Chinese consumers were merely waiting for a form factor redesign. "High-end Chinese users want to buy Apple products, but the iPhone has not had a form factor change for three years," Huberty told Business Insider in August. "We believe that Chinese consumers are just waiting for that change."

Image source: Apple.

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Source: Fool.com