Andrew Caballero-Reynolds | AFP | Getty ImagesApple is facing renewed challenges in China, one of its most critical markets. The iPhone giant's sales in the greater China region in the December quarter fell nearly 13% to $20.8 billion. "This increased competition exerts pressure on both Apple's older models and the base models of its new series." For a long time, Apple has been seen as a luxury brand in China with high appeal among younger audiences. GeopoliticsAnd like many foreign technology firms operating in China, the specter of geopolitics constantly hangs over.

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Persons: Tim Cook, Andrew Caballero, Reynolds, Will Wong, Shah, Josh Koren, CNBC's, Gen, Koren, Apple Organizations: Economic Cooperation, APEC, Apple, AFP, Getty, Huawei, IDC, CNBC, Musketeer Capital Partners, Samsung, Bloomberg Locations: Asia, San Francisco, China, Cupertino , California, 4Q23, Xiaomi