Apple suppliers tumble after disappointing iPhone debut
Investors aren’t sold on the most-expensive model yet
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.