Apple has reported a drop in its fourth quarter sales and profits as iPhone sales continue to decline and computer sales slump.
The electricals giant recorded a 9% fall in revenue to $46.8bn (£38.3bn) in the three months to September 24, the first time the retailer’s year-on-year sales have declined in over ten years.
The retailer’s net income fell 19% to $9bn (£7.4bn) as sales of its iPhone, iPad and laptop products all reported declines.
Sales of iPhones were down for the third consecutive quarter as the retailer released its latest smartphone model towards the end of the quarter, which is reportedly pulling in strong sales.
Sales of the retailer’s Mac computers also plunged 17%.
Sales edged up 3% across Europe but declined 7% across North and South America and tumbled 30% in Greater China.
Operating income also dropped 19% to 11.7bn during the period, but the retailer’s service arm recorded a 24% growth in revenue to £6.3bn.
Chief executive Tim Cook said: “Our strong September quarter results cap a very successful fiscal 2016 for Apple.
“We’re thrilled with the customer response to iPhone 7, iPhone 7 Plus and Apple Watch Series 2, as well as the incredible momentum of our services business.”
No comments yet