Apple shares drop after disappointing iPhones release

Washington, Sept. 12 (ANI): Apple's disappointing iPhone 5S and 5C release reportedly led to a drop in the tech giant's shares by 5.2 percent.

The shares went down to 468.50 dollars on Wednesday as the latest iPhones failed to impress investors.

Apple unveiled the standard iPhones 5S and its low-cost version iPhone 5C, inclusive of biometric scanning feature and better processor.

However, the 5C was not priced low enough to compete in China and other emerging countries where wireless carriers don't subsidize devices as analysts had expected a budget-saving 400 dollars device, but the device is priced in US for 550 dollars and cost even more in China, the New York Post reports.

Analysts at Barclays said that next year would be relatively better for the Apple fans, as the company is speculated to unveil a big-screen iPhone6 and a possible high-definition TV, the report added. (ANI)