Steven Milunovich, an analyst with UBS, said iPhone demand saw outsized growth in China which constituted as much as 35 per cent of shipments in the last quarter of 2014, way higher than the 24 per cent ratio of the US market. During the same period last year, China's market share was 22 per cent.
Apple only began selling iPhone 6 and iPhone 6 plus in the Chinese market on October 17, but Chinese consumers' preference for larger sized phones made the devices the most popular sold in China. Orders reached 10 million within three days after the initial sell date on JD.com, a major e-commerce platform, state-run Xinhua news agency reported.
The UBS report estimates Apple sold 69.3 million iPhones in the last quarter of 2014, a new quarter record. Apple CEO Tim Cook said during a trip to China in October that "it is just a matter of time" before China "becomes Apple's biggest revenue contributor."
Cook also said Apple would increase its number of Apple retail stores in China from 15 to 40 in the next few years. Previously Xiaomi and Samsung dominated the China market with iPhone placed at the third place. Apple products reported to have little over 6 per cent of Chinese market last year.