According to a report from Naeil News – a Seoul based daily newspaper that covers current affairs, the sales of Apple’s latest iPhone is on the decline after strong sales in the first ten days.
Sales of Apple’s iPhone 5 have been below market forecasts as less than 20,000 units are sold per day. More than 80,000 iPhone 5s were sold each day during the first ten days of its release in South Korea on December 7. Based on related business industry data, approximately 400,000 iPhone 5 have been sold so far.
As a result of the lower than expected sales, the report highlighted that Apple would not be able to meet their original forecast of selling 1,000,000 iPhones in the country by the end of the year.
According to the report, the following factors are currently contributing to the decline in sales of the iPhone 5:
- Apple’s iPhone Smaller screen size when compare to competitors such as LG and Samsung in their domestic market.
- The iPhone is perceived to have less features than smartphones from competitors.
The report also stated that the three major telecommunications service providers—SK Telecom, KT and LG Uplus are under investigation for ongoing discriminatory subsidies in the telecommunications industry. According to market experts, this could result in a decline in the number of iPhones sold in the country going forward.
Sources: Brightwire, Naeil News
