Europe Stocks Drop From Five-year High On Industrial Data

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11, 2013. Jason Lee/REUTERS Enlarge The iPhone 5C was rumored to be Apple s entrance into the emerging (and quickly growing ) smart-phone market abroad. Specifically, many speculated that the C could stand for China , as the country has one of the largest untapped markets for iPhones in the world, where Apple ranks seventh among smart-phone sellers, according to Canalys . The Christian Science Monitor Weekly Digital Edition After Apples iPhone 5C reveal on Tuesday, however, the price and features may hold greater appeal to another audience. Europeans will get both a price cut and a much-needed new feature that could boost sales and pull customers away from Samsung , the current king of European smart phones. And while China got a price cut, the total cost and a lingering question of market access will likely mean Apple won’t be storming the Chinese market. The price for the iPhone 5C is significantly less than the iPhone 5 across the board in European countries. In Britain, the iPhone 5C 16GB will retail for 469 ($789), 80 less than the iPhone 5 16GB models as well as the Samsung Galaxy 4S, without contract. In France and Germany , the 5C will cost 599 ($797) without contract, an 80 euro difference from the iPhone 5, which retails for 679 ($904). Since many carriers in Europe dont offer phone subsidies, bringing the un-contracted price down could put the iPhone in the range of more customers. RECOMMENDED: 40 iPhone tips and tricks everyone should know In addition, the iPhone 5C is compatible on the high speed, 4G networks of several European carriers, a feature not seen on any previous iPhone. This brings the Apple brand up to (literal) speed with more regions in Europe than ever before . However, the phone will likely still only appeal to the higher end of smart-phone buyers in Europe, as the phone is still among the most expensive despite being Apple’s cheapest offering yet. In China, on the other hand, the price of the iPhone 5C is still beyond the budget of most Chinese consumers. The 5C 16GB stand-alone phone is priced at 4,488 yuan ($773) Though this is a discount from the 5,285 yuan ($864) price of iPhone 5, it still falls on the ultra-high end of the Chinese smart-phone market. In contrast, just last week Xiaomi , a Chinese company that sold 7 million phones in the first half of 2012, rolled out its newest model, the Mi 3, for 1,999 yuan ($327). On top of pricing issues, Apple is facing a logistical barrier in breaking into the Chinese market. Apple and China Mobile Ltd., the largest provider in the world with more than 700 million subscribers, were rumored to be working out a deal before the iPhone 5C was released.

Germany s DAX (DAX) and the U.K.s FTSE 100 were little changed, while France s CAC 40 lost 0.3 percent. Sanofi slid 2.6 percent to 72.32 euros in Paris. The company withdrew the application for U.S. approval of an experimental drug called lixisenatide in a delay to the companys effort to bolster sales of diabetes medicines in the worlds biggest pharmaceutical market. Zealand Pharma A/S, the Danish company that licensed the drug to Sanofi, plunged 15 percent to 66 kroner, the biggest drop in seven months. Richemont declined 2.3 percent to 91.30 Swiss francs. The worlds largest jewelry maker said revenue in the Asia-Pacific region, its biggest market, rose 4 percent at constant exchange rates in the five months through August as lower sales in China offset growth in Hong Kong and Macau. That compared with growth of 12 percent for the same period last year. Total revenue rose 9 percent excluding currency shifts, missing the 10 percent median estimate of 21 analysts gathered by Bloomberg News. EDF Stake EDF SA, Europes biggest power generator, slipped 2.6 percent to 21.65 euros. Norges Bank, the second-largest shareholder, sold 13 million shares at 21.50 euros each, according to three people familiar with the deal. Vivendi (VIV) rose 2.7 percent to 17.15 euros. Music, pay-TV, European cinema and Internet in Brazil will make up a new media group based in France after the split with phone unit SFR, according to a statement yesterday.