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Tepid reaction for Apple's new iPhones in China amid tough competition

Tepid reaction for Apple's new iPhones in China amid tough competition. HANGZHOU/SHANGHAI (Reuters) - A lower price tag and new features may not be enough for Apple Inc <AAPL.O> to win customers for its newly-launched iPhone 11 series in China, the world's largest smartphone market that is already crowded with cheaper and feature-packed rival handsets. Apple's unveiling of three new iPhones in California met with a limp reaction on Wednesday from analysts and on social media in China, where the U.S. giant has been losing ground to competitors in recent years. One meme doing the rounds on social media featured Apple Chief Executive Tim Cook bragging about the new features and Richard Yu, CEO of Huawei's consumer business group, shutting him down by pointing out that Huawei has had those features for years. When it came to features, one of the main draws of the new launch for U.S. buyers - a $5 per month Netflix-like streaming service - will not be available in China.

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