China's Latest Smartphone Numbers Are Good For Apple

China Mobile Ltd. (ADR) (NYSE: CHL)'s growth may suggests that Apple Inc. (NASDAQ: AAPL)'s China-related concerns are "far fetched," according to a report by Apple Insider,

China Mobile added 23.3 million new 4G users last month, bringing its total user base to 335.6 million - marking a 214 percent growth over the prior year. In fact, the strong growth came ahead of China's Lunar New Year which is the country's largest gift giving season of the year.

Apple Insider added that China's Ministry of Industry and Information Technology's data showed a significant drop in Android's smartphone market share in the December quarter. Meanwhile, the non-Android category rose 33 percent in the quarter and sales of Apple's iPhone account for 90 percent of the category.

Shares of Apple were trading lower by 0.74 percent at $93.99 ahead of Wednesday's opening bell.