With more than 40 stores and hundreds of millions of iPhones sold in the country, few US companies have been as successful as Apple in China — or have as much to lose. China is Apple’s third-largest market, with nearly $52 billion in sales in the company’s most recent fiscal year, mostly from iPhone sales.
Global stocks slumped on Thursday, as US futures pointed to heavy losses after Apple issued a rare revenue warning. The company said sales in the latest quarter would fall as much as 10 per cent below a forecast it issued only two months ago. iPhone sales could take a big hit from China slowdown.