China to be largest market for Apple

China will likely surpass the US to be the largest market for Apple products in three years, according to a report by Morgan Stanley Thursday.

The report said that the California-based IT company saw $13 billion of revenue from the Chinese market during its 2011 fiscal year, up from $3 billion the previous fiscal year, due to the hot sales of the iPhone.

In the report, based on a survey of 2,050 urban mobile phone users, the iPhone has overtaken Nokia to become the most desired smart phone brand. One third of consumers who intend to buy a smart phone said they would choose the iPhone.