Having gone from growth driver to weak spot and back again before, Apple’s
China business was a pleasant surprise this time around, when Apple reported its third quarter earnings on Tuesday. Despite headwinds in the form of continued trade tensions, weakening consumer demand and the slowest economic growth in nearly 30 years, Apple managed to bounce back in the region, returning to growth in mainland China and nearly stopping the slowdown in Greater China.
During the earnings call, Tim Cook attributed the strong showing to a number of factors, including the government stimulus package which included a VAT reduction, pricing changes and the institution of trade-in and financing programs at Apple Stores. "We couldn’t be happier with the progress", Cook concluded, after pointing out that the Greater China business would have returned to growth if it hadn't been for adverse currency effects.