Topeka Capital analyst Brian White has said that Apple’s (NASDAQ:AAPL) iPad mini, which is set to launch in China on December 7, will be incredibly successful in the country. Even though the iPad currently holds a massive 71 percent share of the tablet market in China, the overall sector is still in the stage of rapid growth, giving manufacturers a reason to go big in the Asian country.
Why is White Predicting Good Things for the iPad mini in China?
“Our conversations during our meetings and casual consumer interactions during our China trips tell us that the iPad mini will take off like wildfire in China,” White wrote in a research report, according to the Associated Press. “The smaller form factor and lower price point, we believe Apple will be able to sell the iPad mini in meaningful volumes.”
Our 20-page proprietary analysis of Apple’s stock is ready. Click here and to get your Cheat Sheet report now!
White added that Apple’s plans to launch the iPad mini and the fourth-generation iPad in China as early as this month took him somewhat by surprise.
“Although we expected the iPhone 5 to arrive in China in December, we were not expecting the iPad mini and fourth-generation iPad to be launched in the country this year,” the analyst wrote. “Also, we were surprised on the upside by the fact the new iPads are now in 42 countries, while the iPhone 5 rollout seems a bit slower than expected and [is] in 47 countries.”
The iPhone 5 is scheduled to be launched in the country the following week, on December 14.
How Does China Fit Into Apple’s Larger Scheme?
China is one of Apple’s largest markets and contributed $23.8 billion, or 15 percent, to the company’s fiscal year 2012 revenue. It also continues to grow rapidly, as the company’s 2012 revenue in the country was up 78 percent from the previous year.
In terms of past performance of Apple products in the country, White said that the uptake of the iPhone 4S was relatively slow because the signature new feature, Siri, did not understand Mandarin. However, the fact that this year’s iOS 6 update brought the language to Siri should encourage upgrades, White added. Siri is also available on the new iPads.
Don’t Miss: More Good News for Apple.