China now is the second largest market for Apple
Apple enjoys rising sales and strong consumer interest in China, indicate company’s financial performance. In the first quarter of this year, Apple opened five new stores in the country and until the 2016 we expect that number to grow to 40. This move is certainly successful – China is already the second largest market for Apple after North and South America. The company’s revenues from sales in the country amounted to 16.823 billion dollars, which is 71% more than last year.
Revenue from applications in the App Store does have jumped by 100%. Developers from China received a total of more than $5 billion, half of which in the last year. Contrary to the expectations of many analysts, iPhone sales are not weakened after the initial wave of interest – on the contrary, demand is increasing, and the focus of most users are recent models. The trend can probably be explained by the newly formed middle class in China, which is interested in high-tech gadgets and products that show social status. “I really believe in China,” said Tim Cook reporting of financial results, “it’s an incredible market.”