tech giant, Apple has recorded its slowest ever iPhone sales since its launch in year 2007.
As per official reports, Apple sold 74.8 million iPhones in the first quarter of this fiscal, which is slightly more than the sales during the same period last year. The revenues of Apple for next quarter would be around $50bn and it is less than the $58bn revenue generated during the same period last year. The sales in the first quarter are less than predicted.
Apple Inc shares fell over 6.5 percent after the company reported the slowest-ever rise in iPhone sales. Considering the revenue projection, iPhone is expected to have its first fall in sales in the next quarter, first such fall since the iPhone’s launch in 2007.
iPhone is the single most profitable product any firm has ever produced. Despite the slow sales, the trend indicates that despite a saturated Smartphone market, users are keen to buy the newer iPhone versions. This is a good news for the iPhone 7 market.
