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Apple's revenue falls sharply in Greater China

(People's Daily Online)

10:46, July 28, 2012

Apple Inc.'s profits in Greater China region dropped significantly, according to the financial statement of the third quarter announced by the company on July 25. Some industry insiders pointed out that iPhones are gradually losing its hegemony in the circle of smart phones.

The financial statement show that Apple achieved a profit of 35 billion U.S. dollars in the third quarter this year, an increase of 23 percent compared with 29 billion U.S. dollars of the same period of last year; the net profit reached 8.8 billion U.S. dollars, an increase of 21 percent from 7.3 U.S. dollars of the same period of last year. Compared with the first two quarters, in which the year-on-year increase of net profits reached up to 118 percent and 94 percent respectively, Apple Inc. had a significant decline on the growth rate of net profits in the third quarter, failing to reach the market expectation. The stock price of Apple also dropped nearly 6 percent in afterhours trading.

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