Apple’s Surprise iPhone China Growth Leaves Lingering Questions
- Independent data show unit sales of iPhone were down in China
- Tim Cook has a ‘very positive’ long-term view on China market
IPhone 15 smartphones at an Apple store in Beijing.
Photographer: Andrea Verdelli/BloombergThis article is for subscribers only.
Apple Inc. surprised investors with a decent beat on quarterly revenue from China, countering months of data that showed a quickening decline in iPhone sales.
Chief Executive Officer Tim Cook said iPhone revenue in mainland China grew “on a reported basis,” before adjustments related to Covid supply chain disruptions in 2022. He reiterated Apple’s long-term optimism about a market that’s shrinking but still accounted for 18% of the company’s net sales.