After revealing Apple’s Q2 earnings, CEO Tim Cook shared he “feels nice” about China resulting from beating expectations in a aggressive atmosphere.
Apple earned $90.8 billion within the March quarter, beating Wall Street estimates. The corporate noticed an 8% gross sales drop year-over-year in China, however regardless of the drop, it was much less extreme than initially anticipated.
The iPhone has struggled to see much growth in China resulting from elevated competitors from premium smartphone distributors. Nonetheless, issues have been going to be a lot worse, and Apple CEO Tim Prepare dinner informed CNBC in a stay TV phase that he is centered on the long run.
“I really feel nice that in a unprecedented aggressive atmosphere that we grew iPhone gross sales in mainland China final quarter,” Prepare dinner stated. “Which will come as a shock to some individuals… And so I be ok with China, I believe extra about long run than I do the subsequent week or so.”
The smartphone market noticed a major contraction in China throughout 2023, and Apple was one of many few corporations to be least affected by the headwinds. Earlier knowledge confirmed iPhone because the top smartphone by market share in China, briefly, for the primary time ever.