Cook points to fiscal stimulus after Apple suffers steepest China sales decline in a year

▤ Summary

When Apple reported its December quarter earnings on Thursday, it revealed that China sales had dropped 11.1% on an annual basis. They cited supply chain checks in the country suggesting weak demand and an overall impression that the Chinese consumer was starting to favor locally made devices from companies such as Huawei and Xiaomi over the iPhone. Most notably, Cook cited Apple Intelligences absence in China and Chinese affecting sales. The Chinese government introduced subsidy policies last year to boost consumption and domestic demand, according to analyst firm Canalys. On the earnings call Thursday, Cook said that some of Apples products including smartphones, tablets, PCs and smartwatches would be covered by the subsidy.

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