Apple reports ‘greatest quarter ever’ in China
After a record quarter in China, US tech giant Apple says the market still offers significant opportunity.
Apple says it will double the number of stores in China from 11 to 22 in less than two years. It also plans to further grow its distribution channels across the nation.
The expansion plans follows a second quarter China sales boost of 11 per cent to $8.8 billion as the adoption rate of iPad continues to grow.
“We see significant opportunity in China. It’s a great market,” said CEO Tim Cook.
He said the company is optimistic due to the high number of first time smartphone buyers there.
“China has an unusually large number of potential first-time smartphone buyers, and that’s not lost on us,” said Cook.
The iPhone and iPad maker booked a total revenue of $43.6 billion during the quarter, up 11 per cent over a year ago. The company sold 37.4 million iPhones in the quarter, compared to 35.1 million last year. It also sold 19.5 million iPads during the quarter, compared to 11.8 million in 2012.
Apple forecasts third quarter revenue to stand between $33.5 billion and $35.5 billion.