Apple CEO calls China 'the most competitive market in the world' as iPhone sales drop

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Japan and Asia-Pacific lead revenue decline in the January-March quarter

Apple faces China headwinds amid stiff local competition and slowing iPhone sales   © Reuters

YIFAN YU, Nikkei staff writerMay 3, 2024 06:17 JSTUpdated on May 3, 2024 07:31 JST | China

PALO ALTO, California -- Apple CEO Tim Cook called China "the most competitive market in the world" as the tech company reported lackluster quarterly results Thursday due to weakening demand in the world's second-largest economy and stiff competition from Huawei Technologies.

Apple revenue declined 4.3% on the year to $90.75 billion for the three months ended March 30. The company's main revenue driver iPhone sales dropped 10.5% to $46 billion.

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