In recent news, Apple iPhone sales have seen a major decline in sales according to the latest quarterly report. Apple has reported a total revenue of $46.9 billion and quarterly net income of $9 billion as compared to the previous reports of total revenue of $51.5 billion and net income of $11.1 billion. Despite the recent launch of their flagship device the iPhone 7, it has not really affected the overall income for Apple.
Apple announced their fiscal quarterly reports today and it did not seem as good news. The reason for the decline could primarily be pin-pointed to the decline in iPhone sales. The Cupertino, California based tech giants managed to sell approximately 45.51 million iPhones by 24th September. This however beat their expectation of 44.8 million sales but this did not much affect on their quarterly earnings.
Overall the American and the Chinese market has taken a hit with China having an overall drop of 30% as compared to last reports 33%. During the same time last year Apple had seen a growth of more than 100% in the same region but failed to capture it this year. With the holiday season approaching and Apple expecting a good number of sales that might help the company generate revenues but that is still a big IF.