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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)

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“Apple Registers Double-Digit Growth For iPhones in India”, Says Apple CEO Tim Cook

Mac and iPad generated $7.2 and $6 billion globally in revenue, respectively

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Tim Cook
"The high level of customer satisfaction and loyalty for both products drove the active installed base of both Mac and iPad to new records in all geographic segments," the Apple CEO Tim Cook added. Wikimedia Commons

Buyoed by iPhone 11 sales, Apple registered double-digit growth in India for iPhones in the holiday quarter (October-December period), the company’s CEO Tim Cook has announced.

“We grew double digits in emerging markets led by strong performances in Brazil, mainland China, India, Thailand, and Turkey,” Cook told analysts after declaring all-time high revenue for Apple’s fiscal 2020 first quarter that ended on December 28.

The revenue from iPhones in the holiday quarter was $56 billion globally.

“Again, that’s up 8 per cent over a year ago, thanks to the exceptional demand for the iPhone 11, iPhone 11 Pro, and iPhone 11 Pro Max.

“In fact, iPhone 11 was our top-selling model every week during the December quarter, and the three new models were our three most popular iPhones,” said a beaming Cook.

Indians made a beeline to buy iPhone 11 that flew off the shelves in the festive season. The iPhone XR, launched last year, also did well.

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Buyoed by iPhone 11 sales, Apple registered double-digit growth in India for iPhones in the holiday quarter (October-December period), the company’s CEO Tim Cook has announced. Pixabay

Mac and iPad generated $7.2 and $6 billion globally in revenue, respectively.

“For iPad, we saw growth in key emerging markets like Mexico, India, Turkey, Poland, Thailand, Malaysia, the Philippines, and Vietnam,” said Cook.

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“The high level of customer satisfaction and loyalty for both products drove the active installed base of both Mac and iPad to new records in all geographic segments,” the Apple CEO added. (IANS)