Fast Tech News on August 2: The latest financial report shows that Apple's global revenue reached $85.8 billion in fiscal Q3 2024 (the second quarter of 2024), up 4.9% year-on-year, with a net profit of $21.4 billion, up 7.9% year-on-year, both exceeding market expectations.

However, amidst the general growth, Apple's revenue in Greater China fell by 6.5% year-on-year, making it the only region with declining revenue.

According to data from market research firms Canalys and IDC, domestic manufacturers have, for the first time in history, occupied the top five spots in China's smartphone market, while Apple has fallen out of the top five and become an 'other'.

Analysts at market research firm Emarketer pointed out that Apple's future success depends on controlling AI development costs and ensuring that new AI features attract price-sensitive consumers to upgrade their devices.

Apple CEO Tim Cook said that despite the decline in revenue in Greater China, iPhone installations have actually reached a new high, and the top three best-selling smartphones in Chinese cities are all iPhones.