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Apple Sees Drop in iPhone Sales at Record Pace

Services revenue rose to $11.4 billion from $9.8 billion in the same quarter last year

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The Apple logo is shown outside the company's Worldwide Developers Conference in San Francisco, California. VOA

Apple posted better earnings and revenue than Wall Street expected for the March 2019 quarter — even as sales of its flagship iPhones were $6.5 billion lighter in the period, down by 17 per cent.

iPhones sales fell at their steepest-ever rate during the three months to the end of March but are showing signs of stabilising, the BBC reported.

Apple lifted its outlook for the three months to June, sending its shares over 5 per cent higher in after-hours trading.

The company had warned on iPhones sales earlier this year, citing China where Apple competes with cheaper rivals such as Huawei Technologies and Xiaomi.

Apple chief executive Tim Cook though said sales were stronger towards the end of March, including in China where it cut iPhone prices to boost demand.

For the quarter ended March 30, which is Apple’s fiscal year 2019 second quarter, the company reported revenue of $58.0 billion, down 5 per cent from the year-ago quarter, and earnings per diluted share of $2.46, down 10 per cent.

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Apple CEO Tim Cook speaks during an event to announce new products, Oct. 30, 2018, in the Brooklyn borough of New York. VOA

Wall Street analysts’ consensus estimates had projected Apple to report revenue of $57.37 billion and EPS of $2.36. Apple’s stock rose over 5 per cent in after-hours trading.

While iPhone revenue fell, to $31.05 billion, Apple’s Services segment — which includes the App Store, Apple Music, iCloud, Apple Care and Apple Pay — generated quarterly record revenue of $11.5 billion, up 16 per cent.

According to the CEO, Apple had 390 million paid subscriptions at the end of March, up 30 million in the last quarter.

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Apple is also attempting to shift its reliance on the iPhone towards services and last month unveiled its new TV streaming platform, Apple TV+, to take on the likes of more established companies such as Netflix.

Services revenue rose to $11.4 billion from $9.8 billion in the same quarter last year. (IANS)

Next Story

‘AirPods Pro’ with Noise Cancellation Feature may Debut this Month

Recently, an icon found in iOS 13.2 revealed how the new AirPods will look like

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Apart from noise cancellation feature, these new AirPods will include water resistance for gym or vacation use. Pixabay

Apple is expected to launch its “AirPods Pro” with noise cancellation later this month and might be priced as high as $260.

Apart from noise cancellation feature, these new AirPods will include water resistance for gym or vacation use, the Verge reported on Friday.

Recently, an icon found in iOS 13.2 revealed how the new AirPods will look like.

The iOS 13.2 beta which the iPhone maker released contained a small gray-and-white menu icon that seemingly reveals the company’s AirPods Pro is in works.

The iPhone maker might also launch a 16-inch MacBook Pro with a scissor keyboard, refreshed iPad Pro model along with Apple Tags items trackers soon.

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The iOS 13.2 beta which the iPhone maker released contained a small gray-and-white menu icon that seemingly reveals the company’s AirPods Pro is in works. Pixabay

The company hosted an event last year on October 30 at the Brooklyn Academy of Music, New York City and in 2019 it is again expected to hold the event around the same time.

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Apple has several products lined up for its October event, including a 16-inch MacBook Pro, refreshed iPad Pro model along with Apple Tags. As per the report, the 16-inch MacBook Pro might feature a 3072×1920 resolution display. (IANS)