Apple revenue and profits down as iPhone sales take a hit
Apple has reported a decline in both revenue and profits in its latest quarterly financial results, as the company feels the pinch from slowing demand for its star product, the iPhone. The results showed a 15 per cent fall in sales of the iPhone in the three months ending to December 29th, diving from $61.1 billion in 2017, down to $51.9 billion a year later. However, combined, the hole left by weak iPhone sales resulted in a total drop to $84.3 billion , versus $88.2 billion 12 months prior. Profits also fell slightly to $19.9 billion, compared to $20.1 billion previously. Tuesday's results reflected the economic slowdown in China, with sales in the country down sharply compared to any other region.Apple opens new chapter amid weakening iPhone demand
as mentioned in Results released Tuesday revealed the magnitude of the iPhone slump—a 15 percent drop in revenue from the previous year. Even as he tries to boost iPhone sales, Cook also must prove that Apple can still thrive even if demand doesn't rebound. Besides the profit decline, Apple's revenue fell 5 percent from the prior year, to $84 billion. Apple predicted its revenue for the January-March period will range from $55 billion to $59 billion. Cook traces most of Apple's iPhone problems to a weakening economy in China, the company's second biggest market behind the U.S.Apple Slashes iPhone XR Price For Carriers
Yahoo has confirmed that this practice quietly began on Tuesday with Apple cutting approximately $100 from the price it charges Chinese partners for the iPhone XR. Apple's actions speak volumes and come just days after CEO Tim Cook denied a report in The WSJ which described the iPhone XR as a "failure". It also puts the iPhone XS and iPhone XS Max under serious scrutiny since Cook also claimed the iPhone XR has been the best seller of the new range. The irony of these moves is the iPhone XR is the most interesting and impressive iPhone Apple has released in years. Because if the genuinely impressive iPhone XR is struggling this badly, then the negligible changes Apple has planned for 2019 iPhones (coupled with a glaring omission) do not inspire confidence.Apple is once again selling its iPhone SE — for now
collected by :Clara William
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