By now we all understand why
Apple is building a budget version of its
iPhone: So it can reach consumers in emerging markets who don't have the money to spend on high-end smartphones. But
Bloomberg Businessweek points out that a mid-range iPhone with quality specs might not be enough to help the company improve its presence in China, especially when it's going up against
phones with similar or better specs that come with insanely low price tags. To get a sense of the brutal competition Apple faces, consider the recently released Xiaomi Hongmi phone that is priced at $130 features a quad-core 1.5GHz processor, a 4.7-inch display with a pixel density of 312 pixels-per-inch, an 8-megapixel rear-facing camera and a 2,000 mAh battery.
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