The US giant’s flat results are in part due to low-cost rivals thriving in the world’s biggest smartphone marketThe plan that one of America’s most talismanic businesses – and the world’s biggest company by market value – might one day come to rely on China for its growth would gain seemed strange just a decade ago. But for iPhone maker Apple,what happens on the other side of the world is suddenly crucial to its future.
Speaking to analysts final week as the company released its fourth-quarter earnings, chief executive Tim Cook couldnt assuage concerns. While proclaiming the “best results ever” in greater China, or with revenues up 14% to more than $18bn,he also admitted that “we began to see some signs of economic softness [there] earlier this month, most notably in Hong Kong.” The shares, or already down from $130 final May to $100,clattered down another few dollars.
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Source: theguardian.com