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October 10, 2013 AT 10:31 AM
Releasing an overpriced iPhone 5c in China looked like a disaster waiting to happen, and a recent report seems to indicate just how much damage the misstep has caused. Insider?C Technology reports that Apple has decreased average daily production of the iPhone 5c from 300,000 to 150,000 units - though those figures seem a bit odd - as?sales continue to plummet and gray market prices drop to meet the meager demand. Gray market traders buy iPhones all around the world for subsidized prices and then smuggle them back to China to sell at a slightly lower price than official retailers and wireless carriers.?Typically the gray market price for a popular product would only amount to limited savings, but the iPhone