26 October 2016
Apple posted its third successive quarter of declining iPhone sales this week and forecast slimmer-than-expected profit margins over the upcoming holiday season.
The world's most valuable publicly traded company said it sold 45.51 million iPhones in the three months ended September 24, while revenue fell 9 percent to $46.85 billion, a touch behind Wall Street targets.
In a bid to be upbeat, the tech giant said improved sales from China were around the corner, despite revenue falling almost 30 percent from the country in the latest quarter. It also said sales so far to India have only scratched the surface. Read more here.
Announcing its results, Apple said it was caught off guard by how many people want to buy its biggest smartphone, the iPhone 7 Plus. Apple's Chief Executive Tim Cook told analysts he was not sure the company could make as many units of the bigger phone in time for the Christmas shopping rush. Read more here.
However, there was good news for Apple in the United Arab Emirates this week. Data released by the Telecommunications Regulatory Authority show that the top five handsets in use in the country during the second quarter were Apple’s iPhone 6 (4.17 percent), Nokia 108 (2.99 percent), Samsung Galaxy J100H/J1 (2.45 percent), Apple iPhone 6S (2.32 percent) and Apple iPhone 5S (2.29 percent). Read more here.
It is no surprise then that Tim Cook said in May that Apple is planning more expansion in the region. "The last time I was here there were no stores," Cook told Gulf News in an interview. "We've got our first one here now, and we have one in Abu Dhabi as you know. We'll have more over time." Read more here.
© Express 2016
Apple posted its third successive quarter of declining iPhone sales this week and forecast slimmer-than-expected profit margins over the upcoming holiday season.
The world's most valuable publicly traded company said it sold 45.51 million iPhones in the three months ended September 24, while revenue fell 9 percent to $46.85 billion, a touch behind Wall Street targets.
In a bid to be upbeat, the tech giant said improved sales from China were around the corner, despite revenue falling almost 30 percent from the country in the latest quarter. It also said sales so far to India have only scratched the surface. Read more here.
Announcing its results, Apple said it was caught off guard by how many people want to buy its biggest smartphone, the iPhone 7 Plus. Apple's Chief Executive Tim Cook told analysts he was not sure the company could make as many units of the bigger phone in time for the Christmas shopping rush. Read more here.
However, there was good news for Apple in the United Arab Emirates this week. Data released by the Telecommunications Regulatory Authority show that the top five handsets in use in the country during the second quarter were Apple’s iPhone 6 (4.17 percent), Nokia 108 (2.99 percent), Samsung Galaxy J100H/J1 (2.45 percent), Apple iPhone 6S (2.32 percent) and Apple iPhone 5S (2.29 percent). Read more here.
It is no surprise then that Tim Cook said in May that Apple is planning more expansion in the region. "The last time I was here there were no stores," Cook told Gulf News in an interview. "We've got our first one here now, and we have one in Abu Dhabi as you know. We'll have more over time." Read more here.
© Express 2016