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China Becomes Apple’s Second-Largest Market, Cook Says

Apple Inc. said China has become its largest market after the U.S. as the iPhone, iPad and iMac computer maker opened an online store last year and six retail outlets in the past three years in the Asian nation.

China, the world’s most populous country, accounted for 16 percent of Apple’s fourth-quarter sales, or about $4.5 billion, Chief Executive Officer Tim Cook said on a conference call yesterday. Revenue in the nation was almost four times the year-earlier level, he said.