Ice and fire: iPhone is sluggish and iPad is selling well! Apple's Cook says he believes in Chinese market

According to news on August 2, today Apple also announced its second fiscal quarter financial report. The overall revenue was better than expected, but the iPhone’s performance in the Chinese market was sluggish. In the third fiscal quarter ended June 29, Apple's overall sales increased by 5% to US$85.8 billion, higher than analysts' expectations of US$84.5 billion; however, the Chinese market was disappointing, with sales in Greater China falling by 6.5%. , to US$14.7 billion, below market expectations of US$15.3 billion. Apple's most important product, the iPhone, had revenue of $39.3 billion in the third fiscal quarter. The third fiscal quarter is usually Apple's weakest quarter because many customers are waiting for the next-generation iPhone to be launched in the fall. iPad revenue was US$7.16 billion, a year-on-year increase of 24%, far exceeding the expected US$6.61 billion. This was mainly due to the long-awaited release of new models in the market. Cook said that about half of the customers who bought iPads were new users, indicating that the tablet market is not yet saturated. Mac revenue was $7.01 billion, a year-on-year increase of 2.5%, and the market expected $7.02 billion; wearable devices, home and accessories revenue was $8.1 billion, a year-on-year decrease of 2.3%, higher than the $7.79 billion expected; service revenue was $24.21 billion, a year-on-year increase of 14%, higher than the expected $24.01 billion. It is worth mentioning that the iPhone’s performance in the Chinese market is not ideal, but Apple CEO Cook said in the earnings conference call that he continues to be confident in China’s long-term development. In addition, Cook also emphasized that he will continue to make significant investments in artificial intelligence technology, and artificial intelligence provides another reason for people to buy new iPhones.

Data from Visible Alpha showed that although China’s market performance improved compared to the 8.1% drop in the previous quarter, the decline exceeded analysts’ expectations of a 2.4% drop. Apple faces pressure in the Chinese market as local rivals such as Huawei launch competing products.

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