Apple's IPhones Held Up Surprisingly Well in China Even as the Country Faced Covid Lockdowns

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Apple's IPhones Held Up Surprisingly Well in China Even as the Country Faced Covid Lockdowns
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Apple held up relatively well in the June quarter in China despite a 10% slump in the smartphone market as the iPhone 13 continued to attract users.

and most of Apple's growth in China came during the month. UBS forecasts that June iPhone shipments surged 227% year-on-year.said the reopening of cities plus a major weeks-long shopping shopping festival called"618" — which culminates on June 18 — helped the June recovery.

"We did see a lower demand based on the Covid lockdowns in the cities that the Covid lockdowns affected. And we did see a rebound in those same cities toward the end of the quarter in the June timeframe," Cook said on Apple's earnings call. "And in particular, in the run-up to June 18, which as you know, is a major shopping holiday in China," he added.Apple on Thursday reported

Greater China revenue, which includes Taiwan and Hong Kong, declined 1% year-on-year to $14.6 billion. The company also said its services revenue, which includes sales from its App Store and Apple Music, hit a June quarter record.

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