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

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

20240502N Apple results

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

YIFAN YU, Nikkei staff writer

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.

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