The market obviously wasn't too impressed when Apple launched two new iPhones last night. Shares down nearly 6% today so far. If Apple had slashed the entry price for the 5C, I suspect they would have slumped on 'margin pressures' too. In that regard Apple probably can't win.
But, to me it was the absence of a deal with China Mobile that really disappointed. This had been widely trailed (as had accurate leaks about the 5C and 5S) A special China launch was also arranged for early today. I wonder what went wrong? Maybe the price was too high for China Mobile too?