Apple had a blowout quarter in China. However can its success there proceed?

Sales in the greater China region grew a whopping 57% from the same period in the previous year, topping more than $21 billion, thanks to strong demand for the iPhone 12. The results marked a big win in a key market for Apple (AAPL) — China sales made up nearly 20% of the company’s total revenue in the quarter.

But the iPhone maker hasn’t always been able to count on such a strong performance in the market.

Yet analysts are optimistic that Apple’s success in China in the most recent quarter was not an anomaly.

“China was kind of like a thorn in Apple’s side,” said Dan Morgan, senior portfolio manager at Synovus Trust Company. “Now, the pendulum has completely swung to the other side.”

A key market

Though sales in China haven’t always been steady in recent years, the market remains a crucial one for Apple.

The country’s large middle class has big spending power. Mobile applications for services such as shopping and banking are especially popular with Chinese consumers, creating the…

The post Apple had a blowout quarter in China. However can its success there proceed? appeared first on CaymanMama.com | News.

from CaymanMama.com | News https://ift.tt/2MANg5p