China Earns Apple $10B, Ready for More

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Apple CEO Tim Cook said China accounted for almost US$10 billion of its $45.6 billion 2014 second fiscal quarter revenue, and he sees plenty more opportunity in the country. China has been seen as a growth place for the company, and it seems that's exactly what's happening.

Apple's big new market: ChinaApple's big new market: China

Mr. Cook said during Apple's Q2 2014 earnings conference call on Wednesday that this quater's China numbers were a revenue record. Part of that was driven by iPhone sales, which were up 28 percent in the country.

"The point is, there are markets out there where we're beginning to really catch on, and I'm particularly proud of our results in those markets," he said. "I'm very proud of what we've done in China."

China Telecom and China Unicom were already on board as iPhone and iPad partners, and at the end of 2013 Apple finally managed to land a deal with China Mobile, too. With all three carriers working as official iPhone resellers, China is the largest market for potential new customers.

China is currently Apple's fastest growing region, and the company is looking to increase its presence dramatically. "We're looking at this data and we plan to triple the number of Chinese Apple retail stores," Mr. Cook said. Apple currently runs ten retail stores in the country, so the expansion the company has planned will be agressive.

Apple is also planning on increasing the number of retail stores in China. Currently, Apple has ten stores in China, but Mr. Cook said he plans to expand that up to 30.

"I feel like there's still loads of opportunity there, and I feel good about how we're doing," he said.

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Comments

Vasant

Let’s put this number into perspective. Apple earned $10 billion from China alone in the last quarter. Google, on the other hand, earned $15.4 billion in the last quarter. Apple’s quarterly revenue from China alone was almost 2/3 of Google’s entire revenue. What’s not to like about that?

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