If Apple repositions itself with some mid-range options to...

If Apple repositions itself with some mid-range options to capture more growth in emerging markets, that will definitely be in SRY's favour.  I can't see Apple losing its appeal in the premium market just yet, and certainly in Indonesia and Vietnam the premium segment of the market is miles from saturated.  Brands like Oppo and Xiaomi will continue to pick up mid-range share IMO - maybe SRY can do more with its partnership with a brand like Lenovo? The trick is to get consumers in developing markets - who may be purchasing their first proper smart phone - onto iOS and not Android early, so a mid-range iPhone for developing markets is still a winner for Apple IMO. Only problem is the plastic-backed ones didn't seem to sell too well, and they don't want to cannibalise their premium market by selling older models at a discount or cheapening their premium status. Apple has to find the right strategy to further iPhone growth in developing markets beyond China - and SRY wins if Apple gets it right.