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NEW YORK (TheStreet) -- A recent report revealed that Apple's (AAPL) - Get Apple Inc. Report iPad market share has dropped considerably in China. Clearing up the facts and looking forward is TheStreet's Chris Ciaccia and Debra Borchardt.

Last year's iPad market share stood at 49% in the second quarter. This year? A plunge to 28%, mainly due to cheaper competition entering the region.

Ciaccia adds that it would be important for the tech giant to take back market share and says a product refresh will likely do the trick.

He also said that Android devices are more commodity-like and fragmented, whereas iOS devices have smooth integration throughout the Apple ecosystem.

Sticking with China, Ciaccia said that a lower-priced phone and a deal with

China Mobile

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could be enormous for Apple, considering the telecom giant has more than 750 million subscribers.

According to UBS, which recently upgraded the stock, the iPhone 5C could sell for as much as $399, although estimates have ranged anywhere between $329 and $400.

Ciaccia concluded by saying that the iPhone 5C would be cheap enough to undercut a lot of Apple's competition, while still producing a premium product with hefty margins.

-- Written by Bret Kenwell in Petoskey, Mich.

Follow @BretKenwell

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.