Amwal Al Ghad English - 2014-02-18 09:42:31
Apple Inc. (AAPL) will open its first Latin America store tomorrow in Rio de Janeiro, featuring the highest-priced iPhone of all nations listed on its website.
Apple’s 16-gigabyte, contract-free iPhone 5s will sell for 2,799 reais ($1,174) in Brazil. That compares with $649 in the U.S. and 5,288 renminbi ($872) in China. The price of the iPhone 5s in Brazil, offered by authorized resellers, has jumped 17 percent since September on Apple’s website.
Brazil marks the 15th country where Apple operates its own stores. Having lost market share to rivals including Samsung Electronics Co., Apple is expanding into Latin America, driven by saturation in the U.S. and the desire for growth in one of the world’s biggest smartphone markets, according to Neil Mawston, director of global wireless practice for Strategy Analytics.
“The hype and shine around the Apple brand is not quite as strong as it was two or three years ago, so I wouldn’t expect as strong a buzz,” Mawston said by phone from London. “But it still should be quite an exciting launch for Apple, the country and the region as a whole.”
Apple shares fell by less than 0.1 percent to $544.06 at 2:29 p.m. New York time after hitting their highest intraday level since Jan. 27 earlier today. More»