Apple’s Stock Punished on Announcement of iPhone 5 Sales in China

Apple’s stock dropped on news that its debut of the iPhone 5 in China did not live up to analysts expectations. The company¬†sold 2 million units over the weekend, almost matching their unit sales volume for the entire third quarter of this year, yet the company’s stock was down .

China is now the biggest market in the world for smartphones, but the country’s complicated distribution system has caused Apple problems in in the past.

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