The iPhone is Apple’s biggest product, accounting for about 60 per cent of its revenue in the July-September quarter, the latest reported. Apple is the latest company grappling with increasing Chinese consumer anxiety. Other brand names such as Ford Motor Co. and jeweler Tiffany & Co. already have reported abrupt declines in sales to Chinese buyers. It expects last year’s total Chinese purchases to shrink by 8 per cent to 9 per cent compared with 2016. Yuan Yuan, a 26-year-old employee of a social media company in Beijing, reflects the pressures on urban professionals squeezed by rising living costs and job uncertainty.

Source: National Post January 03, 2019 12:41 UTC