Hundreds of people sat in the almost ritualistic queue outside the Apple store in central Sydney so that they could be among the first in the world to buy the new iPhone X. It seemed to recall the consumer frenzy that greeted early versions of the iPhone, not seen with more recent launches.
The Sydney shop opened not long after Apple released it’s fourth-quarter results with promising forecasts for holiday-season sales, allaying concerns about phone production problems and sending shares to an all-time high in after-market trade. Now worth 868 billion US dollars, analysts have even speculated that Apple might become the first public company to be worth a trillion dollars.
But with a price tag of over 1100 euros and other brands with very similar product offerings for far more wallet-friendly prices, customers say that the ease of use, quality and most importantly brand are still the driving forces behind their desire for the iPhone X.
But brand isn’t the only thing behind the world’s most valuable publicly-traded company. CEO Tim Cook seems to have solved two of Apple’s longest-standing problems: its heavy reliance on the latest flagship iPhone to buoy its profits, and its lack of affordable offerings to help budget-minded buyers see the benefits of joining the Apple family.