iPhone Sales Are Faltering in China, but Vision Pro Is Coming -- Time to Buy Apple Stock?
As earnings season approaches, reports are emerging that suggest iPhone sales are slipping in China. The latest data point to support the idea that 's (NASDAQ: AAPL) top revenue generator is losing steam involves news of a "Lunar New Year sale" offer of 5% off some iPhone models. As sales are measures, it's not much of one, and it certainly is not one worth fretting over as some grand indicator of a downturn.
But it is a situation worth monitoring. Competing smartphone manufacturers in China are ramping up compelling alternatives, and some Chinese government agencies have barred their employees from using iPhones at work. It's a big deal for Apple, because "greater China" was the source of 19% of its total revenue in fiscal 2023 (which ended in September), and sales there actually fell 2.2% from fiscal 2022.
The iPhone is still Apple's breadwinner -- it hauled in more than half of the company's revenue last year (nearly $201 billion of the $383 billion total). Smartphones are a mature market these days, so it should come as no surprise that even the mighty iPhone is exhibiting some ups and downs.
Source Fool.com
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