A new report says that Apple’s iPhone sales in China bounced back in July, an upbeat sign for the company in one of its top sales regions.
According to the China Academy of Information and Communications Technology, iPhone sales in China averaged 2.8 million units a week in July, a 75% increase over the same month a year ago, and a complete reversal from the 15% year-over-year sales decline that took place in June.
JP Morgan analyst Samik Chatterjee said in a research note that the data from China bodes well for Apple, and the entire mobile phone industry, which he said grew shipments by 12% between June and July.
When Apple reported fiscal third-quarter results in late July, it said China accounted for $14.8 billion of the company’s $81.4 billion in total sales for the period.
MacDailyNews Take: There will be iPhone sales blips and bobbles in China and elsewhere, but the iPhone supercycle, powered by 5G, will continue for years.