Apple Senior Vice President of Worldwide Marketing, Phil Schiller, introduces the iPhone x during a launch event in Cupertino, California. Photo: Reuters/Stephen Lam

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Apple suppliers tumble after disappointing iPhone debut

Investors aren’t sold on the most-expensive model yet

By Asia Unhedged September 13, 2017 11:01 PM (UTC+8)

The absence of any truly ground-breaking new iPhone ability, coupled with changes which might be a tough sell, left a bad taste in investors’ mouths following the unveiling of the new iPhone 8 model on Tuesday.

Hong Kong-listed Cowell e Holdings, which manufactures iPhone cameras, fell by as much as 6.6%, while reaction to the new device also weighed on Taiwanese iPhone assembler Pegatron Corp and South Korean screen-maker LG Display Co, according to Bloomberg.

Perhaps the biggest shock of the event at Apple’s new campus on Tuesday was the new phone’s US$1,000 price tag, a big jump from the US$785 launch price of the previous model.

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