Apple admits high prices are a factor for flagging sales

Apple sales in China dropped 27 percent in the final quarter of 2018, with CEO Tim Cook admitting that higher iPhone prices are a "factor" in declining upgrade rates.

The US tech giant said it brought in $13.2 billion in China in the quarter, down from nearly $18 billion during the same period in 2017.

Apple registered shrinking sales revenue in China across all of its leading products - iPhones, Macs, and iPads - along with reduced footfall in its stores.