Image via Bloomberg News
Investors who are keen on The Wall Street Journal may take another look at Apple stock after reading today's paper. The venerable pillar of all things financial is out with a favorable splash feature about Apple's "outsized reputation" in Asia.
Apple has earned the distinction of Asia’s most admired multinational company, according to the Asia 200 survey conducted by the Wall Street Journal.
Apple held just a 1.6% share of the personal-computer market in Asia in the second quarter of this year, and a 0.6% sliver of the region's mobile-phone market, according to technology market-research firm IDC. Yet Apple skyrocketed to the top of our annual Asia 200 survey this year, and was ranked by readers as the region's most admired multinational company. Last year, Apple ranked seventh.
The far reaching consensus is that, while their market share is minimal, their presence is large. And although Apple only ships less than 20% of its product line to Asia at present, the rapid growth in that part of the world will eventually come full circle to improve our experience with Apple both in North America and Europe.
Gamers, for example, take their play time very seriously in Asia - perhaps to an even greater and more competitive extent than some US teenagers. Asia's growing love for the gaming apps - and their growing appetite for Apple products in general - could, for example, help force the company to finally roll out adequate gaming hardware or button functionality for the iPod and iPhone.
Apple clearly wants to dominate the Asian market. And with Asian consumers placing demand on quality technology and streamlined, steady upgrades, the concern that some Apple fans have (that the company is growing lazy, as illustrated by the lack of a real wow-factor at Wednesday's media event) may finally fade from sight.
The release of the iPhone, Apple's latest must-have gadget, in Asia has helped buoy the company's profile in the region. More than 2,000 people in Singapore queued up for hours when domestic carrier Singapore Telecommunications launched the iPhone on July 10. The customer at the front of the line reportedly waited for 11 hours.
Asia is banking on Apple, and Apple is banking on Asia.
How could that relationship ultimately prove anything less than favorable for Apple customers here at home?
-- Post From My iPhone3g