Apple revenue falls for the first time since 2001

By Teamspirit on Friday, 28 October 2016

Apple’s annual revenue has fallen for the first time in fifteen years following a drop in the fourth quarter in a row.

While the company sold 45.51 million iPhones in the three months to September 24th, beating some market predictions, overall sales and revenues across phones, tablets, macs and watches was down.

China – once Apple’s major hope for growth – had a particular impact on the last two quarters, with revenue dropping 33% and then a further 30%.

But, CEO Tim Cook is bullish about the future, pointing to a 24% income increase from services like Apple Pay and Apple Music, the positive response to the iPhone 7, and predictions of bumper holiday season revenues of $76-$78bn.

With such a mixed 2016, it will be very interesting to see how the biggest name in tech fares in 2017.

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