Telecom Lead Asia: Apple CEO Tim Cook says China will become the largest market for the devices major.
There are several reasons for focusing more on China.
Apple’s CEO also said that new Apple products may possibly be launched in China in the future.
“I would love that to happen. China is a very important marketplace for us. China is currently our second largest market. I believe it will become our first. I believe strongly that it will,” said Cook in an exclusive interview with Xinhua in Beijing.
Asia Pacific region that includes China and India (and does not include Japan) contributed $7,537 million revenue, up 15 percent, to Apple in Q4 2012.
Americas’ is still the largest region for Apple. Revenues in Americas were $13,810 million in Q4, growing at 43 percent.
Apple’s second largest contributing region is Europe that chips in $8,023 million revenue in Q4 2012, up 8 percent.
READ HERE: Apple’s region-wise income details
Since growth in Europe is slowing down, China is becoming important for Apple.
Also, China is becoming the largest smartphone market in the world, overtaking America.
“We are growing very fast. We are continuing to invest in retail stores here and will open many more over the next several years. We have some great sites selected, our manufacturing base is here, and we have incredible partners here. So it’s a very very important country to us,” Cook added.
Apple has 11 retail stores in Beijing, Shanghai, Shenzhen, Chengdu and Hong Kong. The one opened last October in the commercial hub of Wangfujing in Beijing is the largest in Asia.
Apple works with China Unicom, China Mobile and China Telecom.
READ MORE: Apple CEO Tim Cook in China to expand market presence.
Cook did not respond to the latest rumor about launching cheaper iPhones for some new emerging markets including China. Instead, he tried to emphasize the suitability of all Apple products for Chinese consumers.
“There are no Apple products that you would look at and say they are not for China. I think they are all perfect for China. I strongly believe that people from all cultures and countries want the best product. That’s what we are trying to do,” he added.
Meanwhile, Apple has tried to dampen speculation over a cheap version of the iPhone costing $100.
Recently, a Chinese newspaper printed an interview with Apple’s head of marketing saying that cheap smartphones will never be the future of Apple’s product.
Last week, Apple announced that customers downloaded over 40 billion apps — nearly 20 billion in 2012 alone. The App Store has over 500 million active accounts and had a record-breaking December with over two billion downloads during the month.
Developers have created over 775,000 apps for iPhone, iPad, and iPod touch and have been paid over $7 billion by Apple
