Tim Cook says easing of trade tensions, price cuts helped Apple stabilise business in China

Apple chief executive Tim Cook said the iPhone maker has “turned things around” in China, following the company’s decision earlier this year to cut product prices there and the recent easing of trade tensions.

“I think the trade tension is less and that clearly looks positive right now with the comments that we’ve been reading in the press,” said Cook in a conference call with analysts after Apple posted its financial results for the quarter ended September 28.

Cupertino, California-based Apple reported a 2.4 per cent decline in quarterly sales to US$11.13 billion in its Greater China market – comprising the mainland, Hong Kong and Taiwan – from US$11.41 billion in the same period last year. That compared favourably against a 27 per cent sales decline in that market during Apple’s December quarter.

“As you can tell from the numbers, we’ve significantly improved since the beginning of the year,” Cook said. “And if you looked at that in constant currency, we actually grew. And so there is a very slight growth there. We obviously want that to be better. But we feel good about how we’re doing.”