From Seeking Alpha
The world's leading smartphone manufacturer Apple Inc (AAPL) has recently released its quarterly results that disappointed investors as its stock tumbled and Exxon (XOM) - temporarily - recaptured the crown of the world's biggest listed company. In mid-day trading on 25th January, Apple's stock fell by 2.32% to $440.4 per share as Exxon surpassed Apple's market cap by $5.23 billion. The sole "bright spot" in Apple's earnings was China. The country is Apple's third biggest market behind the Americas and Europe. Apple's quarterly revenues in China (including from Hong Kong and Taiwan) increased by 67% from last year to reach $6.83 billion. This was the biggest revenue jump that Apple reported out of all of its geographic segments.
Apple is clearly having an impact on this market, but so far, its numbers aren't really impressive. Here, it faces intense competition from Samsung (SSNLF.PK), Lenovo (LNVGY.PK), Huawei, Coolpad, ZTE (ZTCOF.PK) and Xiaomi Technology.
The Chinese smartphone market is growing and growing fast. In the final quarter of last year .... read more