Apple's iPhone Shipments in China May Have Plunged Last Month

Over the past year, Apple (NASDAQ: AAPL) has been grappling with numerous challenges in one of its most important markets: China. Trade tensions with the U.S. have spurred a sense of economic nationalism, with local smartphone buyers purchasing Chinese brands. Currency fluctuations have also taken a bite out of revenue once the yuan is converted back to U.S. dollars, hedging program notwithstanding.

Revenue growth has been in negative territory all year long, although Apple was able to squeeze out positive growth from its Greater China segment in the fiscal third quarter on a constant currency basis. One Wall Street analyst now believes that iPhone unit volumes in the Middle Kingdom plunged last month.

Image source: Apple.

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Source Fool.com