China discounts, cheaper iPhone to cushion Apple from virus blow to demand [Reuters]
Apple Inc. (AAPL)
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Source: Reuters
China discounts, cheaper iPhone to cushion Apple from virus blow to demand SHANGHAI (Reuters) - Apple Inc’s ( AAPL.O ) discounts on the iPhone 11 in China and the release of a new low-price SE model have put the company in a better position than rivals to weather a coronavirus-related plunge in global smartphone demand. While China, which accounts for roughly 15% of Apple’s revenue, appears to be a rare bright spot, investors will be keen to get a picture of global demand when the Cupertino, California-headquartered company reports second-quarter results on Thursday. The iPhone maker has shut retail stores in the United States and Europe following the COVID-19 outbreak, and China is the only major market where it has been able to reopen all shops. Consumer spending is expected to be muted as the pandemic has crippled economies and Apple, the world’s second-most valuable tech company, is better armed with the launch of its new price-conscious iPhone model, analysts said. “Apple is be
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