Apple Inc.’s latest record holiday quarter came in part because of excitement for the iPhone 13 in China, where homegrown Huawei Technologies Co. has seen a decline in its market share following U.S. sanctions.
Greater China revenue rose 21% to a record $25.8 billion during the quarter ending in December, the Cupertino, Calif., tech giant said Thursday. That outpaced its overall revenue growth of 11% to $124 billion, its slowest year-over-year rise in more than a year.
“The products are resonating,” Tim Cook, chief executive, said in an interview.
It is a change of fortunes for Apple and Mr. Cook who in January 2019 took the rare action of slashing the company’s quarterly revenue forecast because of a downturn in iPhone sales in China.
