NEW YORK: Apple’s second-quarter revenue from Greater China defined as mainland China, Hong Kong and Taiwan totalled $16.8 billion, a whopping 71 percent year-over-year jump. This tops the revenue of $12.2 billion out of Europe, and closes in on the $21.3 billion made from the Americas.
While the U.S. remained the Apple’s most lucrative market, more iPhones were sold in Greater China than its home market during the quarter an important milestone for the Cupertino-based company.
This was driven by gift-buying for Chinese New Year, demand from upgraders and the expansion of Apple’s retail network in Greater China, say analysts. The tech giant currently has 21 stores in the region, and plans to almost double its presence by mid-2016.
David Garrity, principal at GVA Research, doesn’t see China’s love for Apple dying off anytime soon.
“While the Lunar New Year certainly caused a seasonal spike in Greater China iPhone sales, I do expect Apple to experience continued momentum over the balance of the current fiscal year,” Garrity told.
