Apple(US:AAPL) 3 6 Ke·2025-11-04 12:22Core Viewpoint - Apple has issued a directive to its authorized dealers prohibiting any business dealings with e-commerce platforms, impacting their sales strategies during the upcoming Double Eleven shopping festival [1][6]. Group 1: Sales Policy Changes - Apple has communicated to its authorized dealers that any violation of the new online sales prohibition will result in the immediate termination of their authorization and partnership [3]. - A compliance commitment letter has been shared with dealers, mandating that sales must only occur in designated offline locations and forbidding any form of online sales or disguised sales [6]. Group 2: Financial Performance - In the fourth quarter of fiscal year 2025, Apple reported a revenue increase of 8% year-over-year, reaching $102.466 billion, with a net profit of $27.466 billion, marking an 86% increase from the previous year [7]. - iPhone sales generated $49.025 billion, reflecting a 6.1% year-over-year growth, although it fell short of market expectations due to supply constraints and underestimated demand for the iPhone 17 [7]. Group 3: Market Performance by Region - Revenue growth was observed in North America (6.1%), Europe (15.2%), and Japan/Asia-Pacific, while Greater China was the only market to experience a revenue decline of 3.6%, totaling $14.493 billion [8]. Group 4: Online Promotions and Competitive Landscape - Despite the new sales restrictions, Apple has initiated promotional activities on e-commerce platforms, including discounts on the iPhone 17 Pro series [9]. - The introduction of national consumption subsidies for mobile phones under 6,000 yuan has intensified price competition, prompting Apple to adjust its pricing strategy to maintain market share against domestic brands [10].