New iPhone may prove too costly

Industry experts warn price tag may put it beyond reach of most Chinese users

Apple Inc unveiled its most advanced iPhone on Wednesday, whose design is impressive enough to spark enthusiasm but its high price tag may prevent Chinese consumers from opening their wallets, analysts said.

iPhone X, unveiled by CEO Tim Cook at the company's new $5 billion headquarters in Cupertino, California, is the most important product for Apple to fend off mounting competition from Huawei Technologies Co Ltd and Samsung Electronics Corp.