We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
80,259 News Articles

Apple shares fall following iPad mini pricing announcement

Reports claim the drop could be down to the smaller iPad's £269 price tag

Apple's share price fell following the company's special event on 23 October, and reports are suggesting that this could be down to the iPad mini's £269 price tag.

The Washington Post reports that "as soon as the price was unveiled" for the iPad mini, Apple's £269 ($329) 7.9in iPad set to compete with Amazon's Kindle Fire and Google's Nexus 7, share sell-off's sped up, and the share price dropped more than $20, ending with a decrease of 3.3 per cent.

"Who's going to buy it?" Matriz research analyst Michael Allenson said following the iPad mini's announcement. "And what are they going to use it for? I don't see that it's differentiated enough."

"When I look at the data from our tablet research, it tells us that people are looking to have fewer devices," Allenson said. "It's a lot of choices that Apple's put in front of people. The question is, are they going to get more people through the door?"

SEE ALSO: Hands on with the iPad mini

On the other hand, Forrester's Sarah Rotman Epps said: "In some ways, [the iPad mini] is cannibalising its own potential sales, but it's also expanding Apple's addressable market."

However, Apple has seen a huge success will its full-size iPad, selling more than 100 million iPads in two and a half years, and dominating the tablet market with a 70 per cent share.

READ: Tim Cook: Apple by the numbers

Plus, the iPad mini was not the only announcement at Apple's event. Long-awaited new iMacs were launched, as well as a 13in MacBook Pro with Retina display that could prove a popular laptop choice, a new Mac mini, and a fourth-generation iPad.

For more analyst reactions to Apple's iPad mini, see Apple struts iPad mini, goes premium with $329 price

See also:

iPad mini cases, covers & accessories WATCH: Apple's iPad mini and Smart Cover videos Refurbished iPad 3 available from Apple for £315 Apple unveils Fusion Drive for new iMac and Mac mini iPad mini vs iPad: We compare Apple's new tablets Apple's predictable iPad mini keynote still had some surprises Apple iPad mini in pictures

IDG UK Sites

Sony Xperia Z3+ release date, price and specs: The Xperia Z4 for the UK

IDG UK Sites

Why Intel’s vision of the future is a future I want to live in

IDG UK Sites

10 amazing, creative uses of tech – and the brands behind them

IDG UK Sites

Jony Ive 'semi-retired' into new role: kicked upstairs as Chief Design Officer