Looks like Apple isn't all that eager to attack the Chinese market after all.
Its new iPhone 5C will cost $549 off-contract in the U.S.
In China, after taxes, the final bill will be $735, according to Tech In Asia.
That puts the iPhone in the high-end of the smartphone market, which is where it already plays.
Apple will continue to sell the iPhone 4 for ~$422 in China. But, it's going to be a three year old phone competing against newer, and still cheaper models from local companies.
Apple is getting smoked in China, but apparently it doesn't care. It would rather protect its profits and margins than go after market share.