China is now Apple’s biggest market outside the U.S.
In today’s earnings report, Apple said that revenue from the Greater China region was $US16.8 billion, ahead of Europe, which came in at $US12.2 billion. The United States is still the company’s biggest region with $US21.3 billion in sales.
Last quarter, Apple boasted of doubling its Chinese revenues year over year, and said that over 70% of iPhone buyers in China were first-time buyers, meaning the market was not close to saturated yet.
Last quarter, China lagged Europe $US16.1 billion to $US17.4 billion. For all of Apple’s 2014 fiscal year, which ended Sept. 30 of last year, China accounted for only $US29.8 billion versus $US40.9 billion in Europe.