Apple sees more rosy prospects with latest iPhone

Apple Inc's latest iPhones are receiving better-than-expected pre-orders in China, with analysts saying that the lower prices and more color options are boosting sales despite the US tech giant's mounting competition with local rivals.

Data from Tmall, an e-commerce platform of Alibaba Group Holding Ltd, show that sales of iPhone 11 series exceeded 100 million yuan ($14 million) in a minute after the new models became available for pre-ordering at 8 pm on Friday.

One of the most popular models is the iPhone 11, whose sales performance surged 335 percent compared with that of its predecessor iPhone XR unveiled in 2018, Tmall said in a statement.