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Apple CEO still seeing strong growth in China

Apple CEO still seeing strong growth in China pardesi news 1459247699

Apple CEO reacts in an optimistic manner.

Apple witnessed a strong business growth, in China during the months of July and August. iPhone activations in China had risen over the past few weeks and the Appstore had the best performance in the last two weeks.

China is Apple's second-biggest market and a key growth region for the country.

The investors were left in a worried state after seeing a sink in China's stock market and Beijing's move to devalue the Yuan last week.

Smartphone sales in China, the world's biggest market for the devices, fell in the second quarter for the first time.

China's phone market is widely believed to be close to saturation with fewer-first time buyers.

Apple's shares fell as much as 13 percent to a year-low of $92 in early trading on Monday, wiping out nearly $80 billion of its market value.

The shares later recovered to trade at $101.16, down 4.3%.

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Patrick Callahan

Pardesi News Reporter

Pardesi News Reporter

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