Apple sales boost profits, but China struggles continue

Apple reported a slowdown in sales in China, its third-largest market, but still posted profits that turned around a year-long losing streak. Revenue in China declined by 13% from last year. However, the company reported an overall upswing in net sales after four straight quarters of declines. Apple CEO Tim Cook attributed the growth to iPhone sales and an all-time revenue record in the company’s services division. Cook also mentioned that the company’s installed base of active devices has reached an all-time high of over 2.2 billion. This is a developing story.