China messes up Apple's Christmas business

Published on: January 3, 2019 / Updated on: January 4, 2019 – Author: Konrad Wolfenstein

Apple significantly lowered its revenue forecast for the past Christmas quarter in a press release . The company now expects revenue of $84 billion, down from its previous projections of $89 billion to $93 billion. The primary reason for the decline is the company's performance in China, where sales of iPhones, Macs, and iPads fell considerably short of expectations. China is Apple's third most important market, accounting for 20 percent of revenue, after the Americas (40 percent) and Europe (24 percent).

In a press release issued yesterday, Apple significantly lowered its sales expectations for the past Christmas quarter. According to the press release, the company is currently expecting revenues of 84 billion US dollars. Apple had previously assumed revenues of 89 to 93 billion US dollars. The main culprit is the Chinese business. Sales of iPhones, Macs and iPads were well below expectations. China is Apple's third most important market after the American double continent (40 percent) and Europe (24 percent) with a 20 percent share of sales.

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