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According to Fast Technology on August 2, the latest financial report shows that Apple's global revenue in the third fiscal quarter of 2024 (second quarter of 2024) reached US$85.8 billion, a year-on-year increase of 4.9%, and net profit was US$21.4 billion, a year-on-year increase of 7.9%, both exceeding market expectations.

However, amid the growth, Apple's revenue in Greater China fell 6.5% year-on-year, making it the only region to experience a decline in revenue.

According to data from market research firms Canalys and IDC, domestic manufacturers have taken the top five spots in China's smartphone market for the first time in history, while Apple has fallen out of the top five and become one of the others.

Analysts at market research firm Emarketer pointed out that Apple's future success depends on controlling the cost of AI development and ensuring that new AI features attract price-sensitive consumers to upgrade their devices.

Apple CEO Tim Cook said that despite a drop in revenue in Greater China, iPhone installations actually hit a new high, and the top three best-selling smartphones in Chinese cities were all iPhones.