IDC said it expected a rebound for the company with the launch of the iPhone 5 in the country in December.
Why is China so Important?
China now has more than one billion mobile phone subscribers, and the country is one its way to becoming the world’s largest smartphone market this year. It contributed $23.8 billion, or 15 percent, to Apple’s 2012 fiscal year revenue, which was up 78 percent from the previous year, and the potential for growth is just huge.
One of the core components of our CHEAT SHEET investing framework focuses on the developments that may have a negative or positive influence on a company’s stock. Thursday’s report comes a day after Apple’s shares fell more than 6 percent for its biggest single-day loss in four years.
One of the main worries for investors is that its rivals are becoming increasingly important. The news of the Nokia-China Mobile partnership didn’t help, as the world’s largest carrier by subscribers will give the Finnish company a chance to win back some of its lost share in the country.
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