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.

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Source Fool.com