Sales of Apple’s iPhone 5 have slumped a bit since the extremely overhyped device launched last year, but a new source of income from Turkey may help to restore some of the company's value.
News out of Turkey is suggesting that Apple’s executive John Couch and other Apple execs are currently in talks with Turkish President, President Abdullah Gül, regarding a deal that will put $4.5 billion worth of iPads in the hands of Turkish students.
Apple stocks topped out at just above $700 billion late last year, but have since dipped to around $450 billion (Exxon has taken back the title of “World’s Most Valuable Company” when the Apple-stock bubble popped).
Analysts are pointing to the fact that Apple has saturated the market with its high-end iPhone, and therefore sales of its latest iPhone are below what investors are hoping it would be. To regain momentum in the mobile market and restore investors’ confidence, Apple released a “budget” iPad—dubbed the iPad mini, and is expected to release a low-end iPhone that will cater to budget conscious consumers as well.
Recently Apple got a bit of good news as a report by Strategy Analytics revealed that the iPhone maker outshined its handset vendor rival, Samsung, by shipping more iPhones in the US than Samsung in the fourth quarter.