September 27, 2023
1 min read

China Boosts Apple’s Sales with 128% Growth

Apple entered the Chinese smartphone market in 2010, and its sales soared over 20 times within five years. It peaked at $58.7 billion in 2015….reports Asian Lite News

China has propelled Apple’s growth with a remarkable 128 per cent surge in net sales in the last 9 years, a new report said on Tuesday.

According to StockApps.com financial analyst Edith, “China has been a vital market for Apple, contributing significantly to the company’s global sales. The Chinese market has seen remarkable growth and challenges for Apple in the past decade”.

Apple entered the Chinese smartphone market in 2010, and its sales soared over 20 times within five years. It peaked at $58.7 billion in 2015.

However, economic headwinds and increased competition led to a gradual decline in sales, which dropped to $40.3 billion in 2020, exacerbated by the Covid-19 pandemic, the report said.

Nonetheless, China has once again become Apple’s growth engine in the last two years.

Moreover, the report mentioned that the ban on iPhones for Chinese government officials is concerning for Apple as China accounts for 20 per cent of its sales, but this situation is not Apple’s first challenge in the country.

The ban comes from Huawei’s Mate 60 Pro flagship smartphone launch, which introduces a Chinese-made 7-nanometer processor.

This move raised eyebrows internationally given the US export ban on advanced semiconductors to China.

Despite these obstacles, Apple’s ability to navigate the Chinese market is noteworthy. The company has demonstrated resilience by constantly evolving its strategies, the report stated.

Apple has customised its products and services to suit local preferences by incorporating features like dual SIM card support, better selfie cameras, and region-specific content on services such as Apple Music and the App Store.

Furthermore, the company has extended its retail footprint in China, opening stores in major cities to offer customers a physical space to experience its products and obtain assistance, according to the report.

ALSO READ: Crypto firm Mixin hit by $200 mn hack, halts services

Previous Story

IFC Report: India Fast-Tracking Emission Goals

Next Story

YouTube Ends ‘Premium Lite’ Subscription Plan

Latest from Business

SBI Simplifying KYC Process

SBI’s research arm noted that the RBI’s decision to maintain the policy rate reflects a balanced approach amid global uncertainties, supported by stable liquidity and external conditions State Bank of India (SBI)

UPI Powers Digital Revolution

New innovations such as LiteX (offline payments), tap-and-pay, credit card integration, UPI Autopay, and UPI for IPO subscriptions are pushing the platform from a payment tool to a full-fledged embedded finance ecosystem Unified

RBI Holds Rates, Boosts Outlook

One of the most significant announcements was the upward revision of India’s GDP growth forecast for FY 2025–26—from 6.5% to 6.8% In a move reflecting cautious optimism, the Reserve Bank of India

Nykaa Expands Global Footprint with UK Debut

To commemorate this significant global debut, Nykaa’s leadership hosted an exclusive soiree at the George Club in Mayfair, London Nykaa, India’s leading beauty and lifestyle destination, is set to make a grand
Go toTop

Don't Miss

China intensifies propaganda in Tibet

The colonial boarding schools, which the Chinese government refers to

China labels Uyghurs ‘violent extremists’ for possession of the Quran

Even owning a copy of the Quran can result in