“You may think you know the story of Apple in China -- how the men and women who make iPods and iPhones for Apple partner Foxconn labor under punishing conditions. But there's another Apple Goes to China story, and this one is the tale of an underdog -- yes, underdog -- that has the potential to unlock billions and billions of dollars in additional revenue, just by eking out market share gains in core products such as smartphones and PCs. If you think Apple, the most valuable company in the world, with a market cap of nearly $600 billion, has nowhere to go but down, we humbly suggest you turn your gaze to the East.
Even as China experiences a sharper-than-expected economic slowdown, it continues to mint millions of consumers who covet Apple's products. In its fiscal first half of the year, Apple has reported $12.4 billion in sales from greater China, and analysts believe Apple could garner $25 billion or more in China sales in calendar 2012. And that's up from $13.3 billion last fiscal year, and almost nothing five years ago. In 2007 -- the year before the iPhone became available internationally -- Apple's annual revenue from China was "a few hundred millions of dollars," Cook has said. The company didn't open its first store in China, a modern glass-and-metal structure in Beijing, until 2008, a full seven years after launching its retail strategy in the U.S.”