Apple’s China slump deepens even as total iPhone sales grow again

Apple reported a deepening slump in China during the holiday quarter, even as total iPhone sales were stronger than expected and the company returned to revenue growth.

Sales in China dropped 13 per cent to $20.8 billion in the fiscal first quarter, which ended December 30, the company said on Thursday. That fell far short of the $23.5 billion predicted by analysts and was Apple’s weakest December quarter in the Asian nation since the first period of 2020.

“We are not happy with the decline, but we know China is the most competitive market in the world,” Chief Financial Officer Luca Maestri said in an interview with Bloomberg.