Shares of Apple suppliers slumped on Wednesday, a day after the U.S. consumer technology giant unveiled two highly anticipated smartphones that failed to wow investors – the iPhone 5S and its lower-cost version, the iPhone 5C.
Shares of Taiwan-listed contract manufacturer Hon Hai Precision Industry fell 1.3 percent and camera phone lens maker Largan plunged 6.4 percent, while microphone and mini-speaker supplier ACC Technologies (ACC) declined 4.7 percent in Hong Kong. Declines follow Apple's 2.3 percent drop in the U.S. overnight.
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Disappointment over the pricing of the iPhone 5C is weighing on shares, said market watchers, who fear that the price tag is too high and may limit sales in key emerging markets.
"I'm disappointed at the pricing of the 5C, which will not compete in the low-end market in China," said Tim Seymour, CIO of Triogem Asset Management.
According to Apple's China website, the phone would be sold at 4,888 yuan ($733). In the U.S., the phone is priced at $549 without a contract, and $99 with a two-year contract. Analysts had expected an unsubsidized price of $350-400.
"If the 5C is intended to be a phone that can compete with Samsung and even HTC, and some of the other Android models in Asia, it's not going to happen," he added.