Samsung releases new version of their galaxy phone

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The Apple iPhone is generally considered to be a monopolisticly competitive product because it has unique features while at the same time it could be substituted with products sold by other phone manufacturers. For this assignment, I would like for you to assume that the primary substitute for the Apple iPhone is the Samsung Galaxy smartphone.

Your assignment is to write a 1-2 page paper were you discuss how Apple might respond if Samsung releases a new version of their Galaxy phone which has a brighter screen, faster processor, and better camera than the current iPhone (assume that the older version of the Galaxy had a dimmer screen, slower processor, and worse camera than the current iPhone). Specifically, be sure to address the impact you think Samsung's changes will have on the price Apple charges as well as the features offered in new Apple phones.

Reference no: EM132230052

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