China has Apple's highest-grossing stores worldwide less than three years after Apple opened its first one in Beijing, according to a Bloomberg report.
Revenue in mainland China, Hong Kong and Taiwan in the first quarter quadrupled to $2.6 billion from a year earlier, Cook said during a Jan. 18 earnings call. Those regions will contribute "well over half" and possibly as much as 100 percent of Apple’s total earnings growth in the next two years, Morgan Stanley estimates.
"We put enormous energy into China, and the results of that have been absolutely staggering," said Apple COO Tim Cook. "It's clear that we're introducing a lot of people to Apple who previously had not been introduced to the company."
On the same earnings call, Apple CFO Peter Oppenheimer said that the four Apple stores in China generate, on average, the highest traffic and highest revenue of any company stores in the world.
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Revenue in mainland China, Hong Kong and Taiwan in the first quarter quadrupled to $2.6 billion from a year earlier, Cook said during a Jan. 18 earnings call. Those regions will contribute "well over half" and possibly as much as 100 percent of Apple’s total earnings growth in the next two years, Morgan Stanley estimates.
"We put enormous energy into China, and the results of that have been absolutely staggering," said Apple COO Tim Cook. "It's clear that we're introducing a lot of people to Apple who previously had not been introduced to the company."
On the same earnings call, Apple CFO Peter Oppenheimer said that the four Apple stores in China generate, on average, the highest traffic and highest revenue of any company stores in the world.
Read More