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Apple's China Sales Tumble Highlights Waning Clout as Local Brands Gain

Apple's weak China sales performance may have shocked investors, but customers and analysts have been noting the rising challenges the company faces in its third-largest market. Intensifying competition from domestic rivals, coupled with longer upgrade cycles as consumers spend more cautiously amid an economic slowdown, have stunted Apple's China growth, with sales there nosediving by 13% in the quarter ending in December to $20.8 billion and missing estimates of $23.5 billion.
Toby Zhu Bob Odonnell Canaly Zhu Technalysis Research Will Wong Bobo Donnell
Source: aawsat.com

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Apple quarterly profit, revenue top Wall Street targets but China lags

(Reuters) -Apple on Thursday forecast a drop in iPhone sales and targeted overall revenue $6 billion below Wall Street expectations as its China business took a hit. This overshadowed overall fiscal first-quarter sales and profit that beat analysts' targets, powered by iPhone growth, sending Apple shares down 3% in after-hours trade. "China is the most competitive smartphone market in the world, and that hasn't changed," Apple CEO Tim Cook told Reuters in an interview.
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Source: aol.com

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