These days, everyone from your 3-year-old cousin to your 90-year-old Nanna is sporting an iPhone. That’s why it may come as a surprise that the tech giant is reporting a decline in iPhone sales for the first time ever.
Apple recently announced its fiscal Q2 2016 results, and the company has sold 51.2 million iPhones which is a 16% decline from the 61 million it sold one year ago. Furthermore, revenues of $50.6 billion were down 13% from the $58 billion Apple made in Q2 2015.
Does this mark the beginning of the end for Apple iPhone? Hold your horses. According to CEO Tim Cook the decline fits with company and industry expectations. “We would ask folks to look underneath the numbers at the details in them before concluding anything.”
In fact, smartphone sales are currently down across the board and Cook is optimistic, reporting growth in sales from upgrades, switches from Android and people who are purchasing smartphones for the first time. With the rumoured release of the iPhone 7 later this year, it’s also likely that sales will experience major growth once again for yuppies wanting to upgrade.
Despite an additional decrease in the sales of iPads and Macs, Apple has also seen growth in the company’s services category with $6 billion in revenue this year. That means things like the App Store, iTunes Store, Apple Pay and iCloud are still bringing home the bacon.
So, it doesn’t look like Apple is going anywhere and continues to keep us on our toes for what is to come next.