Hong Kong Pulled Apple's Performance in Greater China Down Last Quarter, CEO Tim Cook Says
Chen Juan
/SOURCE : Yicai
Hong Kong Pulled Apple's Performance in Greater China Down Last Quarter, CEO Tim Cook Says

(Yicai Global) Aug. 2 -- US smart phone maker Apple Inc. [NASDAQ:AAPL] recently released its financial report for the quarter ended July 1, 2017.

The operating income of Apple Greater China was USD8.0 billion in the group's third fiscal quarter, 25 percent lower than the USD10.7 billion reported in the previous quarter.

The volume of iPhone sales in Greater China was on par with last year's numbers, Apple Chief Executive Tim Cook said. Hong Kong encumbered overall performance in Greater China, he said.

Greater China was the only regional market in which Apple witnessed negative growth in the quarter on an annual basis. Chinese competitors Guangdong Oppo Mobile Communications Co, Vivo Communication Technology Co. and Xiaomi Corp. have kept some market share from the iPhone, analysts said.

"If you look underneath the numbers, which you can't see from the data sheet, Mainland China was flat year-on-year," Cook said in a teleconference with CNBC following the company's earnings report. "In constant currency, it was actually up 5 percent, so we feel great about that."

The firm's service business was a highlight for Apple in China. The income from its service business in Greater China posted double-digit growth in the reporting period. "Mac had a strong quarter in China -- record June quarter," Cook said. "iPad was very strong, services were extremely strong."

"In terms of WeChat, the way that I look at this is because our share -- because iOS share is not nearly a majority of the market in China, the fact that a lot of people use that, it makes the switching opportunity even greater," said Cook.

Apple has noticed and started solving its problems in the Greater China region. Last month, Apple said that Isabel Ge Mahe, vice president of Wireless Technologies, had been named vice president and managing director of Greater China, and would report to Cook and Chief Operating Officer Jeff Williams.

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Keywords: Apple , IPHONE , Revenue