Warren Buffett
Here's why Warren Buffett trusts Tim Cook
01:42 - Source: CNN

Editor’s Note: This story was originally published September 11, 2018.

CNN Business  — 

Apple is gearing up for a revamp of its iPhone lineup, but it’ll need to do a lot more to catch its rivals in some of the world’s hottest smartphone markets.

The company’s signature device has failed to gain a strong foothold in countries like China and India, as well as other markets in Asia, where most of the growth in smartphone sales is coming from.

“If we are just looking at the Western markets then they are all mature, everyone has a smartphone,” Kiranjeet Kaur, an analyst at research firm IDC, told CNNMoney. People in developed markets are also waiting longer to upgrade their phones, she added.