Apple CEO Tim Cook made good on his promise: Apple’s business in China is growing again.
Apple reported quarterly earnings on Thursday. The company said revenue in China was $9.8 billion during the fourth fiscal quarter, up 12 percent year-over-year and up 22 percent sequentially. Last quarter, sales were down 10 percent year-over-year and 25 percent sequentially in the region.
Shaking the slump in China is no small feat.
While Chinese brands like Huawei, Oppo, Vivo and Xiaomi have struggled to gain traction in the U.S., they all outpace Apple in terms of units sold in China, according to Canalys estimates. Chinese consumers also use apps like WeChat to perform some of the functions of Apple’s operating system, and Chinese regulators have a somewhat uneasy relationship with American technology companies.
CEO Tim Cook said a year ago that China would be a key to Apple’s growth going forward. Earlier this year, the company promoted Isabel Ge Mahe to a new position as Apple’s vice president and managing director of greater China, reporting directly to Cook and Chief Operating Officer Jeff Williams.
“We are very bullish on China,” Cook said on the fourth-quarter earnings call last October. “We continue to see a middle class that’s booming there.”
Source: Tech CNBC
Apple roars back to growth in China