By Roger Fingas Monday, March 20, 2017, 10:41 am PT (01:41 pm ET) Please enable JavaScript to view comments
Shipments of iPhone to China dropped last year because of a failure to adjust pricing for the local market , according to the founder of Apple and Vivo , Duan Yongping . Apple historically insists on high profit margins for the iPhone and , while that strategy has succeeded overall , it has hindered the iPhone 's entry into markets such as China and India where high prices can put it out of reach for the average person . An iPhone 7 sold at CNY5,388 ( $ 100 ) , which is as much as many people earn in a month . Last year Apple sank to fifth place among smartphone brands in China .