Apple, Lenovo Butting Heads In China (AAPL)

Apple Inc. AAPL and Lenovo are butting heads in China, as Apple starts to sell the iPad 2 in China. The iPad 2 went on sale this morning at 8 a.m., as hundreds waited in line outside Apple's store in Shanghai's Lujiazui financial district. “They previously had the market all to themselves, but now rival products have sprung up,” said Shan Chao in a telephone interview to Bloomberg. “The new upgrades will help Apple, which is already leading local products in terms of technology.” The new version of the popular tablet is selling for 3,688 yuan, or $568. Lenovo started selling its own tablet computer, the LePad, in March. The LePad starts at 3,499 yuan. At last check, shares of Apple were up $1.35 to $348.00, a gain of 0.36%.