Apple iPhone Sales Fall
While Apple iPhone sales fell for the last two consecutive quarters, it was 15% less than they had planned. The company’s revenue dropped by 14.6% in the third quarter with ended on June 25th.
Apple sold around 40.4 million I phones in the third quarter, which is 0.02million more than they expected.
The company’s net profit fell by 27% and their total revenue fell by 15%. They had predicted that their revenue would fall between $41 billion and $43 billion.
The sales in China also show a decline, but chief executive Tim Cook believes that business in China is stronger and believes they will see growth.
Apple plans to return to the five-inch screen with the iPhone SE as many customers were uninterested in the larger screens of the iPhone 6s and the 6s Plus.
While iPhones make up the majority of Apple’s sales, products such as the Mac, iPod, and Apple watch have also decreased in sales as well.
They have released two new iPads to increase sales. While sales were down revenue went up because of the cost of the iPad Pro.
To compensate for dropping sales, they are turning to digital products in the App Store, streaming services in Apple Music, and Apple pay.
