Apple sales boost profits, but China struggles continue
(CNN) — Apple on Thursday reported a slowdown in sales in China, its third-largest market, but still posted profits that turned around a year-long losing streak.
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Revenue in China came in at $20.8 billion, a 13% decline from last year.
However, the company reported an overall upswing in net sales after four straight quarters of declines.
In a statement, Apple CEO Tim Cook said the company’s growth was fueled by iPhone sales and an all-time revenue record in the company’s services division.
“We are pleased to announce that our installed base of active devices has now surpassed 2.2 billion, reaching an all-time high across all products and geographic segments,” Cook said.
This is a developing story. Check back for updates.
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