Apple’s Profit Nearly Doubles as iPhones Sales Soar - NYTimes.com: "Mr. Cook said that Apple’s quarterly revenue from China was $7.9 billion, about 20 percent of total company revenue. Furthermore, that was triple Apple’s China sales in the same period a year ago. In contrast, Apple’s China sales during its last fiscal year were about 12 percent of total revenue. Two years ago, Apple sales in China were 2 percent.
“China has grown from a rounding error to a massive new market,” said Robert Cihra, an analyst at Evercore Partners. “Their premium price point clearly has not been any hurdle to them growing there.”
Mr. Cook said that enormous numbers of people moving into the middle class in China were creating demand for goods including the iPhone. He said Apple was “doing everything” it could to serve the market. The iPhone 4S went on sale in China on Jan. 13, near the beginning of the last quarter, and starts at nearly $800 without a wireless plan, though it is available free with a multiyear carrier contract."
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“China has grown from a rounding error to a massive new market,” said Robert Cihra, an analyst at Evercore Partners. “Their premium price point clearly has not been any hurdle to them growing there.”
Mr. Cook said that enormous numbers of people moving into the middle class in China were creating demand for goods including the iPhone. He said Apple was “doing everything” it could to serve the market. The iPhone 4S went on sale in China on Jan. 13, near the beginning of the last quarter, and starts at nearly $800 without a wireless plan, though it is available free with a multiyear carrier contract."
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