Analyst says iPhone X for 'relative rich' who value phone appearance

Apple's pricey new iPhone is only for 'rich people' and that's a problem, one analyst says. One analyst was less than impressed with Apple's iPhone X unveil, saying it will only attract "relatively rich people" who "care deeply" about their phone's appearance. Apple's iPhone X $999 price tag represents a "substantial increase that seems justifiable only for relatively rich people who care deeply about the appearance of their phone," wrote KeyBanc analyst Andy Hargreaves in a note Tuesday. Hargreaves noted that the smart phone is the most expensive mobile from Apple to date, about $300 more than the price of a new iPhone 8. Hargreaves differs sharply with his analyst peers, who largely gushed over the more swanky model.

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