As a result, Leap said, it could end up with $100 million worth of unsold iPhones by the middle of this year. That spells more trouble for Leap, a company struggling to keep pace with larger competitors, and sheds light on the challenges facing Apple in cracking the huge market for smartphones being bought by lower-income consumers.
Oh NOES. The iPhone is a failure! Everyone hates Apple now! SELL AAPL! SELL! SELL!
Leap, which has about 5.3 million total subscribers, is also handicapped by the fact it lacks the robust nationwide networks of the country’s biggest carriers, and because technological limits mean it can’t sell the iPhone in all of its markets.
Oh, gee, you think this may explain part of the reason why fewer customers than expected are rushing to buy iPhones from this company? No, it has to be “challenges facing Apple.” Right.