China overtakes Europe as Apple’s second biggest market
China has officially overtaken Europe as Apple’s second biggest territory.
We learned a number of things during Apple’s recent earnings call, including the fact that people are still buying iPhones (shock!) and that the iPad isn’t selling as well as it used to (horror!).
Arguably more notable than either of these two morsels of information is the fact that Europe is no longer Apple’s second biggest market after the US.
As The Verge points out, China has finally overtaken Europe in terms of revenue generated for Apple.
While Europe generated a not-inconsiderable $12.2 billion for Apple in Q2 of 2015, China for the first time trumped that figure. In fact, with $16.8 billion, it completely battered it.
Apple’s home country continues to be the biggest earner for the company, with $21.3 billion of revenue earned in Q2. However, given the massive acceleration in China (revenue is up 71 percent year on year), America’s position atop Apple’s priority list will surely come under threat in future quarters.
Indeed, China was the only territory to show positive growth over Q1’s blockbusting figures.
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Apple opened five new stores in China during the first quarter of the year, which forms part of a plan to open 40 new retail sites in the country by 2016.
With such a plan in place, you feel that Apple’s China-based revenue is only going to increase. Watch out America.