Launch delay for the New smartphone

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During a conference call with analysts on Monday to discuss last quarter's earnings, Apple CEO Tim Cook addressed the issue with China. In explaining the sales factor, Cook noted the launch delay for the new smartphones in China. But he also attributed the sales disparity to another factor -- namely inventory -- and said that in one respect iPhone sales actually rose in China.
Last year, Apple significantly bumped up its channel inventory in China but this year scaled back.

"And so you have a compounded effect of no launch and a huge change in channel inventory in a year-over-year basis," Cook said on the call. "And to share with you what it was in greater China, iPhone unit sell-through despite no launch in Q4 was up 32 percent year over year. The market was projected by IDC to only grow 13 percent. So we feel incredibly great about that."