Tech
iPhone demand is strong in China, says BofAML
While investors fear that the shine might be tarnishing on the iPhone in the west, according to a survey carried out by Bank of America Merrill Lynch, China is very much in love with the iPhone.
Apple's revenue and profits are heavily reliant on the iPhone, so any suggestion that consumer demand is weakening makes investors quite anxious. However, a survey carried out by Bank of America Merrill Lynch, and reported by Bloomberg, suggests that China is still very much in love with the iPhone.
The results should make good reading for Apple.
- Apple is the most popular brand amongst those surveyed, used by 24 percent of respondents (Samsung is next, at 22 percent)
- 39 percent expect to buy an iPhone next (Samsung is again next, at 17 percent)
- 81 percent of iPhone owners plan to stick with the iPhone (again, Samsung is next, with 9 percent)
- Amongst non-iPhone users, 32 percent plan to switch to iPhone (next up is Huawei at 28 percent)
- 57 percent expect to buy their next smartphone within the year
At a time when the stock is taking a bit of a hammering, this will be some much-welcomed good new for Apple.
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