Considering Apple's next major market is mainland China, with a population of over one billion people, its strange to hear that Apple has just a very small portion of Chinese customers. The news has also leaked that Apple's revenues in the market have slipped.
In the third quarter of this fiscal year, Apple's sales have experienced a drop when compared to the two previous quarters, with a big portion of this decline coming from their iPhone. Revenue for the third quarter in Greater China came to $5.7 billion, which is a total of 16-percent of Apple's total revenues. Considering revenues were up 48-percent from the same quarter last year, it had fallen by a sharp 27-percent from the previous quarter.
Increased competition from companies such as Samsung as well as domestic Chinese smartphones brands, the iPhones momentum has been slowing down over the past few months according to Li Yi, the secretary of China Mobile Internet Industry Alliance. Apple have sold 26 million iPhones last quarter, down a very sharp 26-percent, something I noted on last week. These sales figures were below what was expected by Wall St analysts.
Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.