Apple’s new budget iPhone adds to pressure on Chinese brands
China’s smartphone makers are facing a memory chip crunch and price pressure from a new cheaper iPhone. © Reuters
CISSY ZHOU, CHENG-TING FANG and LAULY LI
TOKYO — China’s smartphone market is seeing one of its biggest and widest price hikes ever, affecting almost all brands and product categories, as a deepening memory chip shortage pushes up costs.