Most of Apple's growth in the Mainland is due to its flagship products.IPhoneSales. However, in January, Apple rarely lowered its holiday season revenue forecast, mainly because of the slowdown in sales of the iPhone in China.
Cook believes that the slowdown in sales of the iPhone in China is partly due to the depreciation of the RMB. "As the local currency has depreciated over the past year, our prices have indeed risen, outpacing those in dollar-denominated areas," he said.
In response, he said, Apple had lowered the price of the iPhone in China to pre-depreciation levels. "We'll see how it works," he said.
Despite the slowdown in iPhone sales, Apple has seen growth in other areas, especially in services, including Apple Pay and Apple Music. Last holiday season, services brought Apple a record $10 billion in revenue. Apple has also invested heavily in healthcare, such as introducing electrocardiogram to help users use Apple Watch to check for heart problems.