China owns us now, might as well start waving those red flags and learning Mandarin and Min.
China was a dominate world power for 2000 - 3000 years up until the late 1700s. Adam Smith, the father of modern economic noted that China in 1776 was still the wealthiest nation in the world. But, China, with political strife combined with missing the industrial revolution severely hindered her growth. 250ish years later (a relatively short time in world history), it's not that all that surprising China is starting to return to her former glory.
unless china users see the light and realize iphone is behind the curve.
They know; but like a lot of luxury products, people buy them for other reasons (quality, status, etc.). But even if Apple ends up with a few percentage of the market, it's still a very big number.
Not to mention India...
India has major problems with government, infrastructure, equality, education, etc. that are hindering her growth.
You don't knowing Chinese. They only buying Apple because it was cool but now the news is Apple is losing market, stock going down. Chinese will no buying Apple soon because they don't want be called losers.
True, Apple products are a status symbol... but same thing is happening in North America too - droves are starting to migrate to Android because it is a viable alternative, lower prices, and a bit of an up and comer.
Apple needs to continue to innovate to remain relavant in the market. Otherwise they will just become another Palm or RIM - companies with great products that fell behind due to lack of innovation.