Apple pips Hermes as No 1 luxury gift in China

Shanghai

APPLE Inc has taken the top luxury gifting spot in China from designer goods maker Hermes International SCA, according to a Hurun luxury report on Thursday, reflecting the iPhone maker's recent hot streak in the country.

The US tech firm's focus on glitzy stores and high prices helped it post a 70 per cent rise in sales in China in the last three months of 2014 and powered the company to the largest profit in corporate history.