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Apple to Release Latest iPad in China

Apple Inc. (AAPL) plans to release its third-generation iPad in China on July 20 as the global tablet market sees entry from fresh competitors. Prices for Apple's device will range from $499 to $829, depending on memory capacity. An Apple device compatible with China Unicom's (CHU, 0762.HK, K3ID.SG) mobile network in May received a network access license, a regulatory website showed, suggesting Apple was close to being able to sell its new iPad in China. China is Apple's second-largest market behind the U.S., but the company has been slow to release the new iPad, which has already come out in most developed countries and many other developing countries including Venezuela and Malaysia. The company didn't offer a reason for the slow release, but some have argued it is linked to an ongoing lawsuit between Apple and Hong Kong-based Proview International Holdings Ltd. (0334.HK) and its subsidiaries over the trademark of Apple's iconic tablet computer. Apple sold 11.8 million iPad units in its most recent period, more than double from a year earlier. Apple began selling the third-generation iPad in March in the U.S., the first major product launch for Apple since the latest iPhone went on sale in October. Apple had said it sold a record 3 million iPads in the product's first weekend of sales. Apple reported in April its fiscal second-quarter profit jumped 94% as the consumer electronics giant reported strong sales of its iPhone and iPad products. Apple's competitors have recently entered the tablet arena in a battle for market share. In June, Google Inc. (GOOG) unveiled its Nexus 7 tablet, which will feature Android mobile-software, a seven-inch screen and camera. The tablet is available for $199, significantly less than the cheapest-available Apple iPad and on par with Amazon.com Inc.'s (AMZN) Kindle Fire device. Earlier that month, Microsoft Corp. (MSFT) unveiled the first tablet computer the company has ever made, indicating a strategy shift for the technology giant. The Surface tablet will run Microsoft's coming Windows 8 operating system on company-made hardware. Pricing and availability are not yet announced. Shares of Apple rose 0.7% to $618.08 in recent premarket trading. The stock is up 52% this year. Greenlight Capital Inc. President David Einhorn, in an appearance on CNBC on Tuesday, said Apple is "substantially undervalued" and that his hedge fund expects to continue to hold the stock "for a good while longer." Write to Victoria Stilwell at Victoria.Stilwell@dowjones.com

Stock News for Apple (AAPL)
DateTimeHeadline
05/02/201621:36:00Apple in Long Losing Streak
05/02/201611:29:00MARKET SNAPSHOT: U.S. Stocks Struggle To Push Higher After Mixed...
05/01/201622:10:00Hulu Bets on Cable-Style Web TV
04/29/201620:09:00Fitbit Scores Against Jawbone in Patent Dispute
04/29/201603:03:00Smartphone Makers Get Squeezed -- WSJ
04/28/201621:36:00Samsung Group Names Kwon Oh-hyun to Be CEO of Display Business
04/28/201618:38:00Correction to Apple Story
04/28/201617:13:40Automatic Shelf Registration Statement of Securities of Well-known...
04/28/201616:20:00Icahn No Longer Has Apple Stake, Cites China Concerns
04/28/201616:04:00Icahn Says He No Longer Has Apple Stake, Citing China Concerns
04/28/201614:52:00Icahn No Longer Has Apple Stake, Cites China Concerns -CNBC
04/28/201608:00:00LG Electronics Profit Growth Powered by TV Business
04/28/201603:03:00Tech Giant Is Bruised By China Market -- WSJ
04/28/201602:50:00Sony Returns to Net Profit
04/27/201618:40:00Amazon Liable for Children's In-App Purchases, Court Rules
04/27/201618:30:00Texas Instruments Reports Slightly Higher Profit
04/27/201617:40:00FBI Confirms It Won't Consider Telling Apple About iPhone-Hacking...
04/27/201617:33:00FBI: Won't Consider Telling Apple About iPhone Hack
04/27/201616:50:00Facebook Revenue Soars on Ad Growth
04/27/201616:39:14Quarterly Report (10-q)

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