Apple profits in Greater China jump 66% year-over-year to $6.8B, 26% quarter-over-quarter in Q1 2013

Apple continues to show growth in China, reporting $6.8 billion in revenue in Q1 2013, a 66 percent growth year-over-year and 26 percent growth quarter-over-quarter.

“It’s clear that China is our second largest region from data that we’ve given you, and it’s clear that there’s potential there,” CEO Tim Cook said in Apple’s Q1 2013 earnings call.

In Q4 2012, Apple generated 5.4 billion and 4.1 billion in Q1 2012. Cook also said that iPhone sales in China doubled over the last year, with triple digit growth.

It should be noted that Apple changed the way it reports revenue for the China region, now lumping mainland China, Hong Kong and Taiwan into a category Apple now calls “Greater China.”

Looking at sales across the globe, international sales, which includes the wider Americas, Greater China, Japan and the rest of Asia Pacific, accounted for 61 percent of Apple’s overall revenue of $54.5 billion, translating to $33.2 billion.

Multiple sources earlier this month reported that Apple is possibly looking into a cheaper iPhone, which would be aimed at emerging markets like China.