Apple(US:AAPL) Sou Hu Cai Jing·2025-08-02 03:14Core Insights - Apple's Q3 FY2025 revenue reached $94 billion, a 10% year-over-year increase, with net profit at $23.4 billion, up 9.3% [1] - The Greater China region showed significant growth, with revenue increasing by 4.4% to $15.37 billion, reversing a two-quarter decline [1] Group 1: National Subsidy Policy - Apple's CEO Tim Cook highlighted that the "National Subsidy" policy significantly supported sales in China [3] - The subsidy program, launched in late April, offers discounts up to 20% on various products, including the iPhone 16 series, iPad, Apple Watch, and Mac series, with potential savings of up to 3,000 yuan [3][5] - The Tmall Apple Store, as Apple's only direct brand store on a third-party platform, has enhanced market competitiveness following the subsidy rollout [3] Group 2: Sales Performance - The iPhone 16 Pro, after subsidy adjustments, saw its price drop to 5,499 yuan, making it one of the best-selling models during the "618" shopping festival [5] - On the first day of the Tmall 618 event, Apple's sales exceeded the total sales of the previous year's opening day within just 20 minutes, indicating strong consumer demand [6] Group 3: Strategic Implications - The collaboration with Tmall and the implementation of the subsidy policy reflect Apple's successful localization strategy in China [6][7] - Apple's ongoing investment in China aims to enhance supply chain quality and adapt to local market dynamics, which is crucial for maintaining its competitive edge [7][8] - The competitive landscape remains challenging with domestic brands like Huawei and Xiaomi innovating rapidly, necessitating Apple's continued focus on local partnerships and product innovation [7] Group 4: Consumer Benefits - The National Subsidy policy allows consumers to purchase Apple products at more attractive prices, fostering a mutually beneficial relationship between the brand and its users [9]