The iPhone 6 promises to be the best-selling Apple smartphone ever and economists say the “Made in China” gadget will profoundly impact China’s exports as well as Hong Kong’s retail industry.
The sale, touted the most anticipated of all of Apple’s smartphones, is expected to give exports on the Chinese mainland, Hong Kong and Taiwan a considerable boost. That’s because Apple’s iPhone 6 is an American product and it is assembled in China. And a significant amount of its components comes from Taiwan.
BAML expects iPhone 6 sales will add about 1 percent per month to the mainland’s export growth for the rest of 2014, while Taiwan’s export growth could be bumped up by as much as 2 percent in August and September.
And while China is making headway with its own Xiaomi smartphone, the iPhone 6 has still got a way to go competing with rivals including South Korea’s Samsung. The impact of a pick-up in global demand for Xiaomi would have a more profound impact on the Mainland’s growth indicators.
Until then, it wouldn’t hurt having a new smartphone like the iPhone 6 to get consumers excited and bump up China’s economic indicators.
CCTV’s Cathy Yang reports from Hong Kong.