Apple Inc. AAPL began selling its mixed-reality headset, Vision Pro, in China. However, the product’s price, which is about 18% higher than in the U.S., has sparked a debate among consumers.
What Happened: The Vision Pro is being sold at 29,999 yuan ($4,128) in China, in contrast to its $3,500 price tag in the U.S., CNBC reported on Friday. The elevated price has ignited conversations on Weibo, a Chinese social media platform, where users are questioning the value of the China version of Vision Pro and whether it is worth buying.
Despite the pricing debate, Apple stores in Beijing reported that all of Friday’s training sessions for the Vision Pro were fully booked. Chinese companies such as Tencent, Alibaba, and JD.com have also launched Vision Pro versions of their apps.
Why It Matters: The launch of Vision Pro in China comes after Apple’s trademark dispute over the name "Vision Pro" in the country last year. Despite the legal hurdle, Apple has managed to introduce the product in a market that accounted for approximately 18% of its revenue in the quarter ending Mar. 30, according to an Apple filing.
However, Apple faces tough competition from local brands like Huawei amid heightened national security concerns.
Price Action: As of Friday, Apple was trading 0.79% higher in the pre-market at $215.80 after it closed at $214.10 on Thursday, according to Benzinga Pro.
Image via WWDC 2024
This story was generated using Benzinga Neuro and edited by Pooja Rajkumari
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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