Apple envisions 'ambitious' investments amid China's economic slowdown

By GAO YUAN (China Daily) Updated: 2015-10-30 07:56

Apple CEO Tim Cook speaks at the WSJD Live conference in Laguna Beach, California October 27, 2014.[Photo/Agencies]

Its China revenue had nearly doubled year-on-year, but showed a slight decline from the previous quarter.

Cook, 64, made a four-day trip to China before the company announced the earnings.

He climbed the Great Wall, talked with Chinese app developers and attended a meeting on urban development. It was his second visit to the country in less than six months.

During Cook's stay in the country, Apple opened a new retail store in Dalian, Liaoning province. It was the company's 25th retail store in China and manifested a strategy change of advancing in smaller cities.

After more than five years of rapid growth, China's smartphone market has less momentum to offer.

A research report from consultancy firm International Data Corp showed first-time smartphone buyers in the country had hit a record low.

At the same time, a number of smartphones backed by Internet giants are quickly establishing their presence in the market.

Apple is set to face a real challenger sooner or later. Cook's frequent China visits and investments in environmental protection projects and smaller cities show that he is focusing on a long-term development plan for the country.