Competition takes a bite out of Apple's second-quarter revenue

Apple Inc reported a drop in revenue in China for its fiscal second quarter ended April 1, the fifth consecutive quarter of decline in the region, caused by ever-growing competition from local rivals.

Apple's revenue from China fell 14 percent to $10.73 billion in the quarter, compared with $16.49 billion in the same period last year, despite growth in all other regions.

Apple's Americas, Europe, Japan and rest of Asia-Pacific regions saw revenue grow by 11 percent, 10 percent, 5 percent and 20 percent, respectively.