Tech industry researchers in Shanghai have noticed a small but telling insight into the iPhone's recent reach into China: Even the occasional fresh-meat street vendor can be seen waving an iPhone as he tends to his daily grind.
There's no solid indication of the vendor's social status or income level, but the scenario does likely show that consumers of all stripes in China are shelling out money for the high-end iPhone, which underscores how on point Apple is in a market that represents a huge chunk of the company's short- and long-term growth.
"We remain extremely bullish on China, and we're continuing to invest," said CEO Tim Cook on Apple's third-quarter conference call, in which the firm reported that iPhone sales saw a 112 percent year-over-year increase there. About 27 percent of Apple's revenue for the quarter came from China, though it was down about 21 percent from the previous quarter.
"Nothing that's happened has changed our fundamental view that China will be Apple's largest market at some point in the future," said Cook on the call.