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Apple shrinks 22% in China but says rebound awaits

Price cuts and trade talk progress has improved confidence, Cook says

The Apple iPhone XS and iPhone XS Max are displayed at an Apple office in Shanghai. The company reported a significant drop in January-March sales in the greater China.   © Reuters

PALO ALTO, U.S. -- Apple's China woes continued in the January-March period as greater China sales dropped 22% in a second consecutive quarterly slowdown there.

Yet CEO Tim Cook expressed optimism going forward, citing the advancement of the Sino-American trade talks as well as the kicking in of such Chinese stimulus measures as tax reductions and price cuts. A month into the third quarter of the company's fiscal year, he conveyed confidence that the region will return to growth.

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