Apple iPhone sales tumble but services business grows

Apple Q2 Earnings Preview What To Expect

Apple Q2 Earnings Preview What To Expect

Apple shares have risen 31% this year.

The troubles continued at Apple, following a disappointing Xmas holidays quarter, as it reported 40.2 million unit shipments, down 23.2 per cent, reducing its share to 12.8 per cent from 15.5 per cent.

However, that is below total sales of $61.1bn in the second quarter past year.

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

Apple also estimated it will surpass half a billion subscribers by 2020, likely based on its projections for its forthcoming streaming video and gaming services. $11.5 billion dollars in one quarter. With the smartphone market maturing and successive product upgrades becoming progressively less-than-revolutionary, Apple has been steadily looking to offset shrinking revenues with a pivot to software-oriented services like the App Store, iCloud, Apple Pay, and Apple Music.

In comparison, Apple and Samsung, both of which are now in third and first place, respectively, saw phone shipments decline. Whereas its domestic adaptability in China further scaled sales leading to 7.0 points increase in the previous quarter.

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Or as Cook said: "Clearly what we've learned here-and it's not a surprise, really-is that many, many people do want to trade in their current phone".

Meanwhile, the more mature Mac desktop and laptop business posted a 4.5% revenue drop to $5.5 billion. "The tone is better", Cook told Reuters. This might be Apple's gentle way to help users and making their lives "easier".

Apple also cited strong showings in its revamped trade-in and financing programs, per Ars Technica, with the company claiming "four times the trade-in volume than it did in March 2018" after it rolled out new programs in the U.S., Spain, Italy, the UK, China, and Australia. This looks good or not, its something we are yet to see. But other shareholders such as Brian Pirri, a principal at Apple shareholder New England Investment and Retirement Group, said they took the results with a "grain of salt" because expectations were low heading into the report. "But I think the growth potential is phenomenal", Cook noted. They are individually enormous businesses-as Apple loves to say, each of them is basically a Fortune 200 company-but they are small compared to the scale of the iPhone and the services business. Apple CEO Tim Cook said the board had authorized an additional $75 billion for share repurchases. Apple also said it would spend an extra $75bn on share buybacks.

In its first quarter, which ended in December 2018, a sharp decline in iPhone sales disappointed investors.

In India, price is a key factor when it comes to buying a smartphone.

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