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Apple Loses $60bn Over Reports Of Weak Smartphone Demand in 2018

Apple suffers a huge loss due to low smartphone demand in 2018

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Face ID and Gesture Control for Mac in Apple's Patent. Pixabay
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Apple lost over $60 billion in market cap in two days after Taiwan Semiconductor, Apple’s biggest supplier, said in an earnings update that second-quarter revenues would be hit by “weak demand from the mobile sector”.

Apple shares fell nearly seven per cent on Thursday and Friday over reports of a sharper slowdown in smartphone sales this year, Financial Times reported late on Friday.

Not just Apple, the news led to several global chipmakers losing market valus, including Analogue Devices, Dialog Semiconductor, Qualcomm and Qorvo.

For the first time since 2009, smartphone sales in China fell last year while global sales fell in the fourth quarter of 2017 for the first time since 2004.

Tim Cook
Tim Cook. Wikimedia Commons

In another setback for the iPhone maker, its efforts to get LG Display’s OLED screens for future iPhone production line “have hit manufacturing issues”, the Wall Street Journal reported on Friday.

Apple is reportedly divided on whether LG will be able to succeed as Samsung’s replacement for OLED displays.

The Cupertino-based company currently uses Samsung’s OLED displays for iPhone X.

The LCD panels which are currently being used in the iPhone 8 and iPhone 8 Plus are supplied by LG. Apple Watch screen is made by LG Display.

Also Read: Apple Marks Earth Day With Donations

There are reports that Apple is designing and producing its own device screens, secretly at a facility near its headquarters in California.

It is believed that Apple will switch to OLED displays for all of its iPhone releasing in 2019.  IANS

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Apple CEO Time Cook: “New iPhones Worth The Cost”

The iPhone XS with 512GB storage model will cost Rs 134,900 and the cheapest of the lot, the iPhone XR, has a starting price (64GB) of Rs 76,900 in India

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Apple CEO Tim Cook, Wikimedia

Defending the high cost consumers would have to pay to own the most expensive iPhone released this month, Apple CEO Tim Cook has said that the device is worth the cost as it replaces many other gadgets one might need, a media report said.

Apple’s newest line of iPhones — the iPhone XR, XS and XS Max — cost as much as $1,449 for the most expensive model, CNBC reported late on Tuesday.

“The phone has replaced your digital camera. You don’t have a separate one anymore. It’s replaced your video camera. It’s replaced your music player. It’s replaced all of these different devices,” Cook was quoted as saying to ABC’s “Good Morning America”.

Tim Cook
New iPhones worth the cost: Tim Cook.

“And so arguably the product is really important. And we’ve found that people want to have the most innovative product available and with that, it’s not cheap to do.”

In India, one would have to shell out Rs 12,075 a month as zero-cost EMI for a period of one year to own the 512GB variant of iPhone XS Max that will come for Rs 144,900 in India.

Also Read- Audi Launches A New Electric Car Ahead Tesla

The iPhone XS with 512GB storage model will cost Rs 134,900 and the cheapest of the lot, the iPhone XR, has a starting price (64GB) of Rs 76,900 in India. (IANS)

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