Chinese slave wages aren't that high yet.
Apple can't - won't - lower its price as its price is what gives it its kudos and exclusivity - people buy iphones and other Apple kit much in the same way that Brits buy houses.
(Did you see what I did there?)
There is this great belief in tech companies - I have witnessed it for 20 years now - that they see the entire 7 billion of us as purchasers of their kit. It has been said time and time before with all sorts of IT gadgets and IT services.
Those geeks in Silicon Valley - I was one - really do not understand the planet at all outside of California. They can't get it into their heads that billions of people are struggling each day for clean water and finding something to eat. Yet they include such people in their potential sales for iphones, window phones, android phones, etc.
Yes, some day in some Star Trek future every one will have a mobile device of some kind, but I think we need to think about hunger and thirst and poverty before we add those billions to future sales growth.