Apple to Sell IPhone at Costliest $1,174 in Brazilian Debut

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Apple Inc. will open its first Latin America store tomorrow in Rio de Janeiro, featuring the highest-priced iPhone of all nations listed on its website.

Apple’s 16-gigabyte, contract-free iPhone 5s will sell for 2,799 reais ($1,174) in Brazil. That compares with $649 in the U.S. and 5,288 renminbi ($872) in China. The price of the iPhone 5s in Brazil, offered by authorized resellers, has jumped 17 percent since September on Apple’s website.