Most of the community following Apple’s likely plans now assume the low-cost iPhone to be a reality, but a new report from analysts Canalys tells us that the purported device could be more important to emerging markets than we think.
To put it simply: The iPhone has fallen to 7th place in China. Companies such as Huawei and Xiaomi have even surpassed the Cupertino corporation in sales and Apple now has just 4.8 percent of the smartphone market.
While Apple can’t compete with the lowest-end of the market, it now makes some more sense as to why Apple is pushing this lower-cost device. As 9to5Mac notes, Xiaomi’s latest Hongmi handset is priced at only $130.