"China, honestly, was
surprising to us ... we thought it would be strong, but it went well
past what we thought. The unit growth was really off the charts across
the board," CEO Tim Cook told analysts on Tuesday.
China Mobile Ltd's <0941 .hk=""> 4G customer growth has been
accelerating after a tepid start in February. The number of 4G
subscribers rose to nearly 14 million in June, up from just 1.3 million
at the end of February.
"A
lot of China Mobile customers have been holding on to old phones, so
when the high-speed 4G came out they naturally switched to a 5S or 5C
and upgraded. This trend will only become more apparent with the iPhone
6's release," said C.K. Lu, an analyst at Gartner.
It seems that many Chinese consumers are waiting to pull the trigger on a 4G phone until Apple comes out with the iPhone 6. Then they might be off to the races in terms of Chinese sales. From what I have been reading the iPhone 6 might be one of Apples most popular launches in its history. You have excitement from the US and then you have the Red Chinese waiting to upgrade their phones as well. Then you add the iWatch to this mix and that 13.87 forward P/E ratio looks really cheap.
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