It is no secret that Apple is looking to expand and grow in China. After all given the country’s huge population and booming economy, it would make sense to market to them Apple’s products. In fact Apple has not been shy about their interest in China, with Apple’s CEO Tim Cook going as far as calling China one of their key markets.
Well as it turns out Cook was right on the money because during Apple’s recent earnings call, it was revealed that China has managed to overtake the European market as Apple’s second-largest market. Apple had reported a revenue of $58 billion and out of that $58 billion, a whopping $16.8 billion, which is almost a third of Apple’s revenue, came from the greater China region.
This represents a 71% year-over-year increase which is mighty impressive. As for Europe, out of the $58 billion in revenue, $12.2 billion came from the European region. Apart from this, Apple also managed to beat the estimations of analysts by announcing that they have sold 61.2 millions in their previous quarter, estimates which were previously set at 56.8 million.
According to Cook, “We’re seeing a higher rate of people switching to iPhone than we’ve experienced in previous cycles.” We suppose this is hardly a surprise as the new iPhone 6 and 6 Plus brought about significantly larger displays, something Apple fans have been clamoring for for years.
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