Apple sees China earnings growth after pandemic

Apple reported $ 9.329 billion in revenue in the greater China region, a slight increase from the same period last year.

In its legally mandated third-quarter 2020 financial appeal, Apple revealed a profit of $ 9.33 billion in China. That compares to $ 9.12 billion in the same quarter of 2019, an increase of 1.9% in territory where Apple has struggled recently.

“The growth we’ve seen…” said Tim Cook on the call, “we saw Greater China growth for the quarter of 2%. [but currency fluctuations] affected China a little more than in other places. In constant currency, we would have increased by 6%. ”

“The iPhone 11 has been our best-selling phone,” he continued, “and has been number one in urban China and so we’re very, very proud of it.”

“Demand was strong around the world,” said Luca Maestri, Apple’s chief financial officer, “including a new quarter record in China.”

This is, however, a smaller increase than Apple’s 3.1% increase in revenue in Q1 2020, and overall China lags behind the United States and Europe. .

In the latest third-quarter figures, China’s $ 9.329 billion accounted for 65.82% of Europe’s $ 14.173 billion. However, it only accounts for 34.53% of Apple’s profits in America.

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