Apple has not been doing too good with regards to sales when it comes to the company’s flagship iPhone devices. And with this in mind, the question pegs : is the dominance that the iPhone once had on the smartphone market now over? Well, any doubts over this ended when Apple proceeded to announce its fiscal third quarter results.
Indeed the iPhone brought in just a little less than $26 billion sales for three months which ended June 29. This figure represents a drop of 12% when the same quarter of last year is taken into consideration. More importantly though, Apple actually reported $53.8 billion in total sales for the quarter – with this meaning that the iPhone accounted for less than 50% of the company’s quarterly revenue. It is the first time in seven years that something like this happened.
Apple did not seemed too worried – in fact, the company was quite pleased with its quarterly performance – which had set a record for revenue during the June quarter – however – just barely. Sales were up by just one percent from the $53.3 billion that Apple managed last year. All in all, while the sales for the iPhones may be slowing down, other segments of Apple have seen a rise in sales. Also, the company’s stock was up about four percent in after-hours trading.
Must Read: PSL FRANCHISES WANT HALF OF THE TOURNAMENT TO BE HELD IN PAKISTAN
In acknowledging the 12% drop in sales, Apple took on an optimistic approach by stating that the drop in sales year-on-year wasn’t actually as steep as what the company had experienced during the previous quarter.
The company credited the ramp-up of sales promotions which involve the iPhone – with these including trade-ins for customers with older models as well as financing which allows customers to spread out their payments over time.
The analysts were told by the company to expect revenue in between that of $61 and $64 billion for the quarter which will end in September. If this does turn out to be the case, then it would not represent a big lead from the $62.9 billion in sales which was reported by Apple during last year’s quarter. Such comments by Apple are an indication that the manufacturer has not set the bar too high for sales when it comes to its upcoming iPhone 11 – the launch of which is expected to take place in September – however, one thing to note here would be that the quarter would cover a few weeks of sales at most!
