Apple’s sales performance in China recovers as CEO Tim Cook says Mac production will continue in US
- California-based company on Tuesday reported revenue of US$53.8 billion for the April-June period, up 1 per cent and beating Wall Street estimates
US technology giant Apple saw an improvement in its China business in the past quarter even though global iPhone sales fell to less than 50 per cent of total revenue for the first time in seven years.
The Cupertino, California-based company on Tuesday reported revenue of US$53.8 billion for the April-June period, up 1 per cent from the same period a year ago and beating Wall Street estimates. CEO Tim Cook shrugged off news that iPhone sales fell to 48.3 per cent of overall revenue, saying it reflected successful diversification away from one product.
Cook said non-iPhone revenue grew 17 per cent in China and that Apple grew in every category outside the iPhone in the country. Globally, iPhone sales fell 12 per cent to US$25.99 billion, after dropping 17 per cent in the previous quarter, matching Wall Street forecasts.
“The combined effects of government stimulus, the consumer response to trade and program financing offers, and other sales initiatives and growing engagement with the broader Apple ecosystem had a positive effect,” Cook said during a conference call with analysts. “We were especially pleased with the double-digit increase in services driven by strong growth from the App Store in China,” he said.