Apple published its fiscal Q3 earnings on Tuesday, reporting that revenues fell by 15% year-over-year to about $42.4 billion amid shipment declines across its major product lines, while gross margins also contracted by 170 basis points to 38%, on account of a growing mix of low-end iPhone sales and FX impacts.  Although the results were better than expected, the company’s performance in Greater China – a region that has been the biggest source of growth in recent years – was concerning. Revenues from the market (which includes Mainland China, Hong Kong and China) declined by about 33% year over year to roughly $8.8 billion, accounting for about 60% of Apple’s overall revenue decline for the quarter. While the decline was partly due to a tough comparison with Q3 FY’15 and the regulatory and economic headwinds Apple faces in China, it could also be reflective of a more competitive and dynamic smartphone market.

from Forbes – Tech http://ift.tt/2aqM7af
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