Apple revenue lags Street view despite strong China growth

[Wireless News]

http://l.yimg.com/bt/api/res/1.2/pBdQqvFFMlrXkD.nDaZctg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2014-07-22T204459Z_2_LYNXMPEA6L0YB_RTROPTP_2_APPLE-IPHONE.JPG (http://news.yahoo.com/apple-revenue-lags-street-forecasts-203358943--finance.html)Apple Inc posted a smaller-than-expected 6 percent rise in quarterly revenue on Tuesday, but revenue surged 28 percent in greater China despite intense competition in its third-largest market. Apple's iPhone sales in China jumped about 48 percent and Mac computer sales rose 39 percent in the June quarter, Chief Financial Officer Luca Maestri said in an interview. China is considered crucial to Apple's longer-term growth prospects, Maestri said. --- Lower-cost phones sold there by up-and-coming rivals such as Xiaomi appeared to be taking market share from other companies that rely on Google's Android mobile software, Maestri added.--- "We have a really good runway in front of us with China Mobile," Maestri said, referring to Apple's main carrier partner in the world's No. 2 economy. Samsung Electronics Co Ltd this month estimated April-June operating profit far below most analysts' forecasts, as its flagship Galaxy S5 sold more slowly than expected.



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