Cartoons

Apple’s 1.3 billion new fans

Is Apple the fastest growing US company in China? This week’s record first quarter earnings suggest it’s possible. CFO Peter Oppenheimer told analysts that of the firm’s 323 stores, its four in China (all fairly new) have not only the highest traffic, but also the highest sales revenue of any of its stores globally. WiC readers will recall in issue 89 (Talking Point) we discussed Apple’s increasing focus on the Chinese market. Oppenheimer now describes it as the tech firm’s “top priority” and stated that revenues for the China region (including Hong Kong and Taiwan) were up substantially to $2.6 billion in the first quarter – that’s versus $3 billion for the entirety of 2010. Growth in China looks set to continue too. Shanghai Daily reports that next month China Telecom will follow in Verizon’s footsteps and start selling the CDMA version of the iPhone 4. That will mean Apple’s top product will be available from two of China’s three telcos, likely boosting its sales.


© ChinTell Ltd. All rights reserved.

Exclusively sponsored by HSBC.

The Week in China website and the weekly magazine publications are owned and maintained by ChinTell Limited, Hong Kong. Neither HSBC nor any member of the HSBC group of companies ("HSBC") endorses the contents and/or is involved in selecting, creating or editing the contents of the Week in China website or the Week in China magazine. The views expressed in these publications are solely the views of ChinTell Limited and do not necessarily reflect the views or investment ideas of HSBC. No responsibility will therefore be assumed by HSBC for the contents of these publications or for the errors or omissions therein.