That’s the headline of my newest story, which ran last week.
NEW DELHI—The iPhone X has set a new benchmark for smartphone prices and bolstered Apple Inc.’s bottom line, but its steep price may be hobbling its future in Asia’s biggest markets and allowing Chinese challengers to grab market share.
Buyers from India to Indonesia are opting for models from Chinese smartphone makers like Xiaomi Corp.—sometimes called “the Apple of China”—along with BBK Electronics Corp.’s Oppo and Vivo.
China’s manufacturers are increasingly churning out higher-priced devices that compete directly with Apple’s smartphones. They often have high-end features, but carry lower price tags than the iPhone X or even older iPhone models. They are targeting potential Apple customers by offering phones with robust hardware such as metal bodies, beefy batteries and unique features iPhones lack, including special cameras for taking better selfies.
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