rtmark
LearnBonds.com

Apple Inc. (AAPL) Wins on Samsung’s Home Turf as iPhone 7 Sells Out in Korea

Apple Inc. has started to record gains from Samsung’s loss in the smartphone market in an weird turn of events. Apple’s iPhone 7 pre-orders were sold out in Korea in record time in an interesting case that shows that even Koreans have lost faith in Samsung. In case you don’t know, Samsung Electronics is a Korean firm and many experts believe that Samsung controls to cultlike following in Korea in the same way that Apple has a cultlike presence in the U.S.

When the issue of exploding Samsung Galaxy Note 7 started, very few people thought that Samsung was in serious trouble. However, the fact that the explosions have continued and that new devices suffered the same explosive fate as the first batch suggests that the firm has serious issues in its production. We observed that Samsung’s loss is Apple’s gain and that Tim Cook could sell 15 million more iPhone 7 as people jump ship from Samsung to buy iPhones.

Apple Inc. (NASDAQ:AAPL) Store

Samsung loses market share to Apple on home turf

Apple Inc. has gone to Samsung’s home turf to position the iPhone 7 as a better alternative Samsung’s poorly built phones and the Koreans seem to agree. Apple began its iPhone 7 pre-orders in South Korea last Friday ahead of an official launch this week. Breaking news has it that the iPhone 7 and iPhone 7 Plus were sold out on the same day that preorders started.

The Korea Times reports  that “Apple’s iPhone 7 and iPhone 7 Plus were sold out as soon as the three major mobile telecom service providers began taking pre-orders at 9 am on October 14.” The details of the report maintain that KT telecom sold out its 50,000 available iPhone 7 within 15 minutes of opening pre orders. SK telecom sold out its first batch of preorders in 20 minutes and the second batch of preorders sold out in one hour.

More interesting is the fact that pre-order sales number for the iPhone 7 in Korea has more than doubled the pre-order sales number for the iPhone 6S. Korea Time observed that “Apple is having a field day in a situation where its rival is incapacitated due to the Samsung Galaxy Note 7 saga.” The iPhone 7 series will make a debut in the Korean market on October 21.” In essence, if Apple could potentially double its market share in Samsung’s home country, there’s nothing stopping the firm from dominating the smartphone market in the rest of the world.

The FAA forces Samsung’s loyalists to ditch Note 7

Analysts have proffered a contrarian view suggesting that Apple Inc. won’t be able to win all of Samsung’s loyalists over. However, the Federal Aviation Administration (FAA) has made an order that would force the last of Samsung’s loyalists to ditch their Note 7 devices. The FAA by virtue of Order No. FAA-2016- 9288 has declared it illegal to bring a Samsung Note 7 on board aircraft.

Apple would sell more iPhone because the fear of committing a federal crime will push the last of Samsung loyalists to ditch their Note 7. The FAA is serious and it says any attempt to bring Note 7 on board aircraft in the U.S. is “subject to civil penalties of up to $179,933 for each violation for each day they are found to be in violation (49 U.S.C. 5123)… result in fines under title 18, imprisonment of up to ten years, or both (49 U.S.C. 5124).”

All trading carries risk. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.
Avatar

Adam Green is an experienced writer and fintech enthusiast. He he worked with LearnBonds.com since 2019 and covers a range of areas including: personal finance, savings, bonds and taxes.

X

Leading Social Trading Platform with 0% Commission

Leading Social Trading Platform with 0% Commission

Leading Social Trading Platform with 0% Commission

TRADE WITH ETORO

75% of investors lose money when trading CFDs.

Leading Social Trading Platform with 0% Commission
TRADE WITH ETORO

75% of investors lose money when trading CFDs.

HTML Snippets Powered By : XYZScripts.com