Shanghai Daily reports:

Apple’s new plastic-backed iPhone 5C will sell for 4,488 yuan (US$730) in China, almost US$200 more than the US retail price of US$549 and only 800 yuan less than its top-of-the-line sibling, the 5S.

The pricing of what was expected to be a cheap model aimed at growth markets such as China and India has not only stumped investors, but also Apple’s fans in China, a country of 1.4 billion people and the world’s largest smartphone market, according to Reuters.

“My original estimate of the 5C price was around 3,000 yuan. But more than 4,000, I think for a budget version the price may be a little expensive. I don’t think I can buy one,” said Liu Donghai, a 25-year-old chemical engineer.

Read more: http://www.shanghaidaily.com/Business/it/iPhone-5C-to-cost-US/shdaily.shtml