Apple’s iPhones are reportedly losing their values in the trend-setting Asian markets of Singapore and Hong Kong, as users shift their interest to other smartphone devices, especially those made by Apple’s rival, Samsung, Reuters has reported.
Apple’s mobile devices that include iPad and iPhone are not able to maintain their reputation and in Singapore their shares have fallen significantly during the last couple of years. On the other hand, devices using Google’s Android have seen an increase in demand in the same market.
The same has been the case for the Hong Kong market where Apple currently accounts for 30 per cent of the total market share. Apple’s share in the market was over 40 per cent a year ago.
The declining trend does not mean that Apple has completely lost its value. In fact, the emergence of other smartphones has provided users a number of different options and that, too, at cheaper rates, encouraging them to rely more on other smartphone devices rather than Apple, which mostly targets high-end consumers.
Still, it is a setback for Apple amid a lot of other problems the company is facing at present. After its quarterly report that was released recently, Apple’s shares are on a decline and an air of uncertainty with respect to its growth prospects is spread all over. The decline in its share value recent made Apple lose the crown of the world’s most valuable company. Meanwhile, Samsung’s Galaxy has now become the most recommended smartphone in the UK markets, adding to the worries of Apple. What measures Apple takes to recover from this downfall are yet unknown, but CEO Tim Cook seems pretty much relaxed, which, on its face, is a positive sign.
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