BEIJING | Waning iPhone demand highlights consumer anxiety in China
BEIJING—Jan 03, 2019 —Apple’s $1,000 iPhone is a tough sell to Chinese consumers jittery over an economic slump and the trade war with Washington.
CEO Tim Cook told shareholders Wednesday that iPhone demand is waning, mainly in China. That makes the tech giant the latest global company grappling with Chinese consumer anxiety.
Other brand names from Ford Motor Co. to jeweler Tiffany & Co. already have reported abrupt declines in sales to Chinese consumers.