The Ups and Downs of Apple's China Business
This article is published in collaboration with Statista
by Felix Richter
Having gone from growth driver to weak spot and back again before, Apple’s China business was a pleasant surprise this time around, when Apple reported its latest quarterly earnings on Wednesday. Despite pandemic headwinds, the company managed to bounce back strongly in the Greater China region, posting 57-percent sales growth for its strongest quarter ever.
During the earnings call, Tim Cook attributed the strong showing to a number of factors, with pent-up demand for the first 5G iPhone top of the list. "We could not have turned in a performance like we did with only iPhone," Cook said. "We really did well across the board there." In terms of COVID-19, he added that China was "very much in the recovery stage" and that Apple's business hadn't been affected by the few cases and regional lockdowns occuring in the country during the past quarter.
In the three months ended December, 26, Apple's sales in the region amounted to $21.3 billion, up from just $13.6 billion a year earlier.
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