Chinese Retailers Jump the Gun with Pre-Sales of iPhone 5 (AAPL)
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Due to strong demand, companies in China are already taking orders for Apple's (Nasdaq: AAPL) much anticipated iPhone 5. According to reports out of Reuters, China's largest e-commerce platform, Taobao, a unit of Alibaba, is already accepting pre-orders despite sketchy details on the phone's new features. Buyers don't seem overly concerned, and orders are already coming in. Taobao is asking consumers in China for a $160 deposit, and another retailer, Dahai99888, is asking for $1100 upfront for the iPhone 5.
The release date for the iPhone 5 is believed to be between August and October of this year. Apple will begin selling the new iPad in China on July 20th. Other companies with exposure to China's economy have been reducing guidance due to a slowing economy in Asia, but if evidence from recent reports is correct, Apply may once again prove be an exception to rules governing 'normal' companies.
The release date for the iPhone 5 is believed to be between August and October of this year. Apple will begin selling the new iPad in China on July 20th. Other companies with exposure to China's economy have been reducing guidance due to a slowing economy in Asia, but if evidence from recent reports is correct, Apply may once again prove be an exception to rules governing 'normal' companies.
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