January 28, 2021 at 10:16AM

Apple raked in its highest ever revenue in the greater China region in the December quarter as a record number of iPhone upgrades helped the U.S. tech giant in one of its most important markets. Greater China revenue came in at $21.31 billion in the three months ended December 26, up 57% from last year. That was the highest revenue figure for a single quarter in greater China in Apple’s history. Apple also recorded its highest ever quarter for total revenue as it reported fiscal first-quarter earnings on Wednesday.

Apple CEO Tim Cook said the performance in China was “more than an iPhone story,” with other products contributing, but noted the company’s flagship smartphone was crucial. “China also had a record number of upgraders during the quarter, the most we’ve ever seen in a quarter. I think probably some portion of this was that people probably delayed purchasing in the previous quarter as rumors started appearing about an iPhone,” Cook said on the earnings call. “Keep in mind that 5G in China is, the network is well established. And the overwhelming majority of phones being sold are 5G phones. And so I think there was some level of anticipation for us delivering an iPhone with 5G.”

Apple had a record quarter in China with the highest ever number of iPhone upgrades, CNBC, Jan 28

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From: The FxPro News Team https://fxpro.news/daily-forex-outlook/apple-had-a-record-quarter-in-china-with-the-highest-ever-number-of-iphone-upgrades-20210128/
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