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Apple steels for more pain after 27% slump in China last quarter

Cook describes emerging markets as 'significantly more severe' than expected

Apple's sales in China declined in the quarter to December as consumers shunned high-priced iPhones.   © Reuters

PALO ALTO, U.S. -- Apple is digging in for a longer sales slump after weak Chinese iPhone demand led to a 5% decline for October-December, the first drop in nine quarters.

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