On January 29, 2019, Apple Inc. announced that its total revenue for the fourth quarter of 2018 stood at US$84.3 billion, a drop of five percent year-on-year. The tech giant’s revenue from the iPhone declined by 15 percent from a year ago. In China, the company raked in revenue of US$13.17 billion during the final quarter, down sharply from US$17.96 billion year-on-year. In contrast, domestic smartphone brands, including Huawei, Xiaomi, OPPO and VIVO are seeing steady growth in both sales and revenue thanks to continuous innovation and low-pricing strategies. Changshuo Science and Technology, the second-largest Apple factory in Huojian Village in Shanghai’s Pudong District, has begun to scaled down production and it is now rare for its 60,000 workers to work overtime. Analysts say Apple has to adjust its pricing strategy and introduce cheaper models at a time when consumers worldwide are increasingly rational when choosing mobile devices.
Old Version
