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This is why Apple iPhone sales are tanking in China
(MarketWatch) It was early morning eight months ago when Tim Cook shot an email to TV personality Jim Cramer telling him the company was doing fine in China. The global markets roiled amid broader macroeconomic concerns, yet Apple’s shares quickly recovered on Cook’s optimism.
Two quarters later, things are far from rosy.
Sales in the Greater China region plunged 26% in its fiscal second quarter, marking the biggest percentage decline of any of Apple’s geographic regions. Total sales fell for the first time since 2003, while the iPhone suffered its first-ever quarterly decline.
“Whereas China accounted for half or more of the company’s revenue growth for several quarters, it’s now accounting for half its year-on-year shrinkage,” said Jan Dawson, founder of tech consulting company Jackdaw Research. .............(more)
http://www.marketwatch.com/story/apple-is-performing-terribly-in-china-but-its-not-because-of-the-economy-2016-04-27
