While Apple has been a force in the technology sector for several years, it wasn’t widely available in one of the biggest markets in the world until recently. As Apple has branched out into China, a world of opportunity exists for the Cupertino-based giant with adding its real mark in the country with the release of the company’s latest version of the iPhone, the iPhone 5, resulting in proven that the Chinese market is a viable option for their future endeavors.
iPhone 5: Sales in China
When Apple released the iPhone 5 into the Chinese market, it had met with record sales numbers and a great deal of hype surrounding the brand. Counting on stats, in the first weekend alone, the company sold over 2 million units in China. While a country with a billion people buying 2 million iPhones may not seem like a big deal, but in actual it is when you compare it to the other smartphones on the market. The overall number of people who have 3G service in China is relatively small compared to its population but when you compare the number of iPhone buyers with that demographic, a much rosier picture starts to emerge.
Apple Stock Chances
With the recent expansion into the Chinese market, Apple seems like it’s poised for massive growth in the future. Although Apple seems to be doing well, its stock price hasn’t really reflected that recently. However, if you were to issue an online broker survey, most analysts would still be bullish on the long-term potential that Apple brings to the table. They’ve always been a company that is full of innovation, and their products tend to sell well in almost every market.
Another thing that Apple has going for it is the emergence of its products in the business world. Many companies are turning to Apple products in an attempt to help with the mobility of their workforce. You’ll find more iPads, more iPhones, and other Apple devices in the workplace now than ever before. Many companies even find themselves trying to figure out ways to finance the purchase of their new Apple devices. For example, searching for the best cash back business credit card can be a good way for businesses to finance their purchases.
Although Apple is definitely poised for long-term success, it may have a bumpy ride in the interim but its large cash reserves and penchant for innovation should be able to help it get over the hump and reach new heights.