China has been the biggest market for Apple ever since the beginning but now the company is drilling down in it. According to many analysts and investors the company is suffering since 2001 when its first annual revenues started decreasing.
China has been the biggest source of growth for Apple and the company progressed by leaps and bounds in this market. But now over the time, Apple is facing continuous setbacks in its sales. Company’s sale fell to 30% in china in the past quarter.
According to this chart statistics, Apple’s dollar sales growth in the last year dropped by $10.2 billion. Oppo and Vivo have emerged as tough competition for iPhone because of which the device lost a lot of its market share. Not only this, the company is facing some serious regulatory issues with local Chinese officials.
On Thursday’s call for earnings, the current chief executive of Apple Time Cook, remained optimistic with the iPhone’s gains at this time. Despite the fall of earnings, the company is confident to regain the lost shares with its upcoming iPhone’s version in 2017. The hype for the future version of iPhone 7 is anticipated to give Chinese market a boost that it actually needs. But Tim Cook and the company are getting more attracted to their audience in India. It is considering India to be another big market for growing its sales and generating greater earnings.
Via: Business Insider