Retail in Asia

In Trends

Apple revenue lags Street’s view despite strong China growth

Apple Inc posted a smaller-than-expected 6 percent rise in quarterly revenue Tuesday, but revenue surged 28 percent in greater China despite stiff competition in its third-largest market.

It sold 35.2 million iPhones in the June quarter, a rise of about 13 percent that was in line with analysts’ projections, helped by a strong performance in an Asian market considered crucial to Apple’s longer-term growth prospects.

Chief Executive Tim Cook told analysts on a conference call that Apple’s Chinese performance was "honestly surprising".