An Apple store in Chengdu, Southwest China's Sichuan Province. Photo: IC

Apple announced its financial results for its fiscal 2025 third quarter ending in June on Thursday, where sales in China have emerged as a key growth driver for the company fueled by China's consumer goods trade-in program, which boosted sales of some of its products.

The company posted quarterly revenue of $94.0 billion, up 10 percent year-on-year, and quarterly diluted earnings per share of $1.57, up 12 percent year-on-year, according to the financial results.

Apple reported a rebound in revenue from China. Net sales in China grew from $14.73 billion in the third quarter of 2024 to $15.37billion this past quarter.

That gain was a turnaround from a year-on-year decline in China sales in the March quarter, the Reuters reported.

Commenting on China, Apple CEO Tim Cook said that it was a "very positive" quarter. He told analysts the growth in China had been driven by the iPhone, with some of Apple's products benefiting from China's consumer goods trade-in program for smartphones.

"We did grow in greater China by 4 percent during the quarter versus the previous quarter. It was driven by an acceleration by iPhone, although we also had substantial growth on the Mac year over year. As you know, the government has placed certain subsidies that affect some of our products, not all of them, but there are some of them, and I think that had some effect," Cook said on the earnings call with analysts.

He also noted that the MacBook Air was the top selling laptop model in all of China, and the Mac Mini was the top-selling desktop model in all of China.

"This reflects that the Chinese market is a crucial link in its overall corporate strategy and cannot be lost," veteran telecom industry observer Ma Jihua told the Global Times on Friday.

For multinational companies like Apple, the Chinese market boasts a large base, substantial growth potential and rapid growth momentum. Amid an overall lackluster global performance, the Chinese market serves as a "ballast stone," Ma said.

The development also underscores the deep and inseparable ties between US-China economic and trade cooperation, Ma added.

In meeting with Chinese Commerce Minister Wang Wentao in March, Cook said that Apple will continue to increase investments in sectors such as supply chains, research and development and social responsibility in China, aiming to support the country's high-quality development, according to the Xinhua News Agency.

Cook emphasized that the company stands ready to play an active role in promoting the stable, healthy development of China-US economic and trade relations, according to Xinhua.

Win-win cooperation between China and the US stands as an inevitable trend, with collaboration yielding tangible benefits for both parties, Ma added.