But no one has benefited from China’s growing appetite for smartphones more than Apple. Even as the developed world was becoming saturated with iPhones, Apple kept expanding its sales with the help of China. The iPhone first became available in China in 2009, relatively early in its now gloried history, and has kept growing in line with the country’s expansion in disposable income and smartphone demand. This past quarter, Apple sold more iPhones in China than in the United States, belying prognostications that the Chinese market wouldn’t be receptive to such a premium, high-margin device.
With Europe being pretty much a lost cause for Apple, China really stepped in and offered the company more growth potential than Europe ever could.