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Shira Ovide

Apple Loses Its China Buoy

Sales in the country have been essential, but they fell 26 percent in the latest quarter.

Many things aren't going Apple's way right now. The company's disclosures Tuesday about its revenue, profits and projected sales for the next quarter were all pretty awful. And China, once a chief source of strength, is now among Apple's long list of bummers. 

Sales in what Apple calls Greater China -- including China, Hong Kong and Taiwan -- have been essential to Apple, expanding from 9 percent of the company's total revenue five years ago to 25 percent in the company's fiscal second quarter ended March 26.