His company owes this to the success of the latest iPhone generation, said company boss Tim Cook in an interview with the Reuters news agency on Thursday. “We had particularly strong double-digit growth in emerging markets outside of China. The iPhone is doing well in these markets.”
But China business disappoints
This helped the electronics group achieve a surprisingly significant increase in consolidated sales of two percent to 119.58 billion dollars (110.34 billion euros). Earnings of $2.18 per share also exceeded market expectations. The important China business, however, disappointed again. There, revenue only reached $20.82 billion instead of the hoped-for $23.53.
In addition to the political tensions between the People’s Republic and the USA, Apple’s powerful products from local competitors are causing problems there. The company responded with one of its rare discount campaigns.