Feb 03, 2024 03:23 AM

BUSINESS

Slowdown Sparks Fears Apple is Losing Its Bite in China

00:00

00:00/00:00

Listen to this article 1x

China’s importance to Apple goes beyond its status as the company’s third-largest market by revenue

China’s importance to Apple goes beyond its status as the company’s third-largest market by revenue

(Bloomberg) — Apple Inc.’s latest quarterly results triggered investor fears that the company is losing ground in China, a long-prized market that generates roughly a fifth of its sales.

Revenue from the region plunged 13% last quarter, marking the worst decline since the 2018 holiday season. The drop was jarring enough to overshadow otherwise strong results, which included Apple’s first overall sales growth in a year.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Share this article

Open WeChat and scan the QR code

GALLERY

: Gallery: Innovation Takes Off at Flying Vehicle Expo

PODCAST

Caixin Deep Dive: How China’s Crypto Ban Makes Disposing of Seized Assets a Lot Harder

00:00

00:00/00:00

MOST POPULAR

1: Cover Story: China’s Factory Exodus Is Turning Vietnam Into the World’s Assembler

2: Meituan Enters Open-Source AI Race With LongCat Model

3: Ex-UBS Banker in Hong Kong Jailed 10 Years for Laundering $17.2 Million

4: End of U.S. Tax Exemption Hits Chinese Air Cargo Carriers Differently

5: Alipay Fined by Luxembourg Regulator for Anti-Money Laundering Breaches

SPONSORED

OR