Apple is Going Big With the iPhone 5
The iPhone 5 will launch in more than 50 new countries between December 7 and December 21, putting Apple (NASDAQ:AAPL) on track to reach its target of making the new smartphone available in 100 countries before the end of the year. While announcing a December 14 iPhone 5 launch in China, Apple had said last week that the device was now available in 47 countries. While that number was somewhat disappointing for most watchers, Monday’s news will be welcomed.
What Do Apple’s Expansion Plans Look Like?
Apple said in a press release on Monday that the iPhone 5 will be available in South Korea on Friday, and in more than 50 additional countries, including Brazil, Russia, and Taiwan, in the coming days this month.
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The latest Apple smartphone is currently available in 47 countries around the world, including the U.S., Australia, Canada, France, Germany, Hong Kong, Japan, and the U.K. Last week, the company said it would reach China, one of its quickest growing markets.
CHEAT SHEET Analysis: Positive Catalyst for Apple’s Stock
Apple has clearly begun catching supply up with demand as last week it also started selling an unlocked version of the iPhone 5 through its online store. The plans for new international expansion, then, come as even better news. Despite the catalyst, Apple shares are down 7.5% in the past 5 trading days. Through Wednesday’s close, the stock had risen 33 percent in the past year, yet still remains above its six-month low point in mid-November.