amgvy2015
aapl15q3

Apple Revenues In China Skyrocket 112% in Q3

Next Story

iPhone Sales Up 35% With 47.5M Units Sold In Q3

In light of some pretty recent major fluctuations in the Chinese stock market, Apple still managed to have a stellar quarter in China. During its third quarter, the company saw 112% year-over-year revenue growth in the Greater China region, which accounts for the company’s sales in China, Taiwan and Hong Kong.

In the most recent quarter, the third of 2015, revenue in China for Apple grew to $13.2 billion from $6.2 billion in 2014. Revenue in China again surpassed that of Europe at $10.3 billion. The Greater China region remains Apple’s second largest market after the Americas, underscoring the critical importance of this area to Apple’s future growth.

In a conference call, Apple CEO Tim Cook specified that iPhone unit growth had shot up 87% in the Greater China region with the amount of Macs sold also increasing 33 percent. CFO Luca Maestri further specified that sales of the iPhone 6 Plus were particularly important to the iPhone unit growth in China.

In addition to hardware, Cook said that App Store revenues had more than doubled in the past quarter. Retail is expanding rapidly in China as well, Maestri says the company plans to add 40 Stores in China over the next 12 months.

Apple’s shares are down around 9% in after-hours trading as of the time of writing.

Updating with information from Apple’s conference call.