Apple Inc. reported lackluster sales revenue from China in the last quarter.
The company said on July 23 that its revenue from China fell 14 percent year on year to $4.6 billion in the quarter. The figure, which represents a 43-percent decline from the previous quarter, marked the first time that revenue decreased in the region.
Apple said its growth in the Chinese market had slowed, particularly due to economic headwinds. China's GDP growth eased to 7.6 percent in the first half, compared with 7.8 percent a year earlier.
Apple's CEO Tim Cook said that he wasn't discouraged by the numbers from just a 90-day period. "I continue to believe that in the arc of time here, China is a huge opportunity for Apple," Cook said. |