Apple reported on Tuesday in the United States that its iPhone revenue declined 15 per cent in its fiscal first quarter ended December 29 to US$51.98 billion, down from US$61.10 billion in the year-ago quarter because of foreign exchange conditions. The iPhone maker has always celebrated and cherished the results of its first fiscal quarter every year - the strongest quarter that generated more revenue, profit and higher sales of iPhone.
"We've made a decision to go back to (iPhone prices) more commensurate with what our local prices were a year ago, in hopes of helping the sales in those areas", Cook told Reuters in an interview. "For millions of customers, we made it cheap and efficient to replace the battery and hold onto their existing iPhones a bit longer", Cook explained. Apple's plan to shift its emphasis to selling paid services, such as warranties and music subscriptions, is heavily dependent on having a large and growing base of users.
Tim Cook says customers are holding on to their older iPhones a bit longer than in the past and this paired with macroeconomic factors has resulted in iPhone revenue falling 15 % from previous year.
Overall, revenue for the quarter was at US$84.3 billion, slightly outstripping analyst estimates it would be around US$83.97 billion. Services revenue reached an all-time high of $10.9 billion, up 19% over the prior year, and revenue from Mac and Wearables, Home and Accessories also reached all-time highs, growing 9% and 33%, respectively.
Apple to fix FaceTime bug
The caller can then eavesdrop on the person being called, and in some demonstrations even watch them through the camera app. If the recipient hit the power or volume button, the phone would broadcast video as well, the Vergereported.
Each quarter, Apple forecasts high and low numbers it expects for the next quarter's earnings.
Other factors negatively impacting iPhone sales included smaller carrier subsidies in some developed markets, such as Japan, and weak demand in emerging markets.
The active installed base is a key driver for Apple's ambitions to grow its services business, which grew by 19 percent in the quarter to a record $10.9bn. Apple said global sales accounted for 62 per cent of revenue.
The past quarter's letdown intensified the focus on Apple's forecast for the opening three months of the year as investors try to get a better grasp on iPhone sales until the next models are released in autumn.
What Roger Stone indictment means for Russian Federation probe, Trump
The intelligence committee voted to release a transcript of Stone's testimony to Mueller as a precursor to an indictment. In a statement, Stone's attorney said his client would fight the charges and that it was unfair to accuse him of lying.
Apple CEO Tim Cook speaks during an event to announce new products, October 30, 2018, in the Brooklyn borough of NY.
"Apple iPhone has an Asia problem", Mawston wrote. Most iPhones are outfitted with Apple's proprietary Lightning port. The numbers will be a bit more hard to read.
This is the first time smartphone shipments dropped for an entire year.
The issues of market saturation and longer refresh cycles are issues that are affecting Apple in general.
Apple revokes Facebook's ability to deploy apps internally amid privacy scandal dispute
In February 2018, Facebook launched a VPN app called Onavo Protect , which was promoted as helping to keep your mobile data safe. Apple limits the use of these developer apps to employees of the app creator, but Facebook reportedly violated this policy.
According to Hong Kong-based Counterpoint Research, Apple's India shipments were 1.7 million in 2018, nearly 50 per cent lower than the 2017 shipments of 3.2 million units.
- China says United States should bear consequences of Venezuela sanctions
- NHL All-Star Game: Women players steal the show at skills competition
- Don't Run Against Trump, Howard — Michael Bloomberg Panics
- Super Bowl Experience is Overvalued
- Tiger Woods' challenge stalls with third-round 71 at Torrey Pines
- Brexit deal not open to renegotiation - European Union spokesman
- Grizzlies reportedly listening to offers for Green, Temple
- Ronda Rousey flustered by booing WWE 'Raw' crowd
- US charges Chinese tech giant Huawei, top executive
- Daniel Radcliffe puts Tom Brady on blast over MAGA hat