cheap is a relative term

The supposedly "cheap" 5C will be sold for around $733 in mainland China, 33% more than the price in the U.S. and 21% more than what's being charged in Hong Kong.

Apple Charging 33% More In China For “Cheap” iPhone 5C

While some Apple enthusiasts might have been put off by the colorful plastic shells of the new iPhone 5C, it’s hard to complain about the $99 price point. Even the full, unsubsidized price of $549 is lower than what you’d pay for many new, comparable smartphones. But customers in mainland China are scratching their heads and wondering why they are being charged $733 for what is supposed to be a bargain phone. [More]