Apple suffers 10% drop in quarterly iPhone sales to start the year, biggest drop since pandemic
7 months, 3 weeks ago

Apple suffers 10% drop in quarterly iPhone sales to start the year, biggest drop since pandemic

LA Times  

The sun is reflected on Apple’s Fifth Avenue store in New York. Apple on Thursday disclosed its steepest quarterly decline in iPhone sales since the pandemic’s outset, deepening a slump that’s increasing the pressure on the trendsetting company to spruce up its products with more artificial intelligence. It marked the biggest drop in iPhone sales since the July-September period in 2020, when production bottlenecks caused by factory closures during the pandemic resulted in a delayed release of that year’s model. The current iPhone downturn was the main reason Apple’s revenue for the latest quarter decreased 4% from last year to $90.8 billion. Weak sales in China were again a factor in the latest quarter, with revenue in that region falling 8% from last year to $16.37 billion as rival smartphone makers gained ground in one of the company’s largest markets Apple had a few bright spots in the past quarter too, most notably in its service division, which saw revenue rise 14% from the year before to $23.87 billion.

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