“Apple Inc. Chief Executive Officer Tim Cook said China will overtake the U.S. to become its largest market, as the iPhone-maker adds more stores and considers debuting new products in the country,” Bloomberg News reports.
“‘I believe it will become our first,’ Cook said in an interview with state-owned Xinhua News yesterday. No timeframe was given for the prediction,” Bloomberg reports. “The Cupertino, California-based company had $5.7 billion of sales in China during the quarter ended September. U.S. revenue was about $14.4 billion, based on figures in an Oct. 25 earnings statement.”
Bloomberg reports, “Apple intends to open “many more” outlets in China over the next several years, Cook said in the Xinhua interview. The company now has 11 stores in China and Hong Kong. Cook also said he would also ‘love’ to introduce new products in China first, according to the report. The iPhone 5 was released in China in December, almost three months after the U.S. introduction.”
Read more in the full article here.
[Thanks to MacDailyNews readers too numerous to mention individually for the heads up.]
AAPL up $25 today?
It implies china mobile deal has been made .
Not necessarily.
Business in China is growing. China has more people than the US.
All things considered, it’s just a matter of time.
Apple Inc. Chief Executive Officer Tim Cook said China will overtake the U.S. to become its largest market, as the iPhone-maker adds more stores and considers debuting new products in the country,” Bloomberg News reports
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This comment might explain the “substantial changes” reportedly made to Schillers comment yesterday.
APPLE has to debut next new products together with the US here,
it’s more important than EU is, why is it that Tim Cook just come to realized recently? EU does produce a lot of luxurious goods but their
own citizens hardly buy them, only the rich do. Just look how big
Ferraris are in the Middle East and China, it’s mind boggling .
Dediu at Asymco has a prediction of 3 years, with his usual great charts.
Who couldn’t see that coming. Literally 4-5 cities in China could almost make up the entire population of the United States. A little exaggerated but their size is just so much great it doesn’t take much.
I had already thought China’s craving for Apple products had been as big?
Let’s see:
U.S. population: 330,000,000
China population: 1,200,000,000
U.S. economy: recession/stagnant (at best)
China economy: growing with growing middle class (who are becoming very brand conscious)
I don’t see this as any big revelation.
U.S GDP = 15.7 trillion
China GDP = 8.3 trillion
Just sayin’
In other Earth stopping news…water is wet!
From what I’ve seen, the Chinese also don’t dick around too much agonizing whether to buy an iPhone or a “not-iPhone”. Those who can afford it – which is most of the ones I have met – simply do not have an issue – they just buy the best available, which is the iPhone.