That strategy has proved fruitful: While the 5C didn’t provide quite the success Apple had hoped for, a more feature-packed iPhone SE formed the backbone of yet another successful quarter for the company, with reports indicating as late as April that demand was still outpacing supply. Still, stocks shot up because the results were better than expected. Mac sales were down 11 percent.
Advertisement
Apple’s services business, which includes the App Store, Apple Pay, iCloud and other services generated almost $6 billion in revenue, up 18.9%from the previous year.
“Our Services business grew 19 percent year-over-year and App Store revenue was the highest ever, as our installed base continued to grow and transacting customers hit an all-time record”, said Maestri. “Our initial sales data tells us that the iPhone SE is popular in both developed and emerging markets”, he said on the conference call.
We’re sure Apple has a secret weapon hiding under its sleeve which it’ll unleash at the right time. As a result, Apple’s overall revenue fell 15 percent to $42.4 billion for the three months ending June 30. “We understand China well and we remain very, very optimistic about the future there”.
So, the milestone is nothing more than a temporary reprieve with Apple requires waking up to current conditions on the ground. “Apple is clearly investing in India to diversify their emerging region performance”.
“In terms of AR and the Pokémon phenomenon, it’s incredible what’s happened there”, Cook said.
Apple is moving into new areas such as Apple TV and streaming music which could produce more stable revenues but so far these areas have had minimal impact.
Apple’s sales in Greater China – defined by the company as China, Hong Kong and Taiwan – plunged 33%. Given that iPhone accounts for nearly two-thirds of the Cupertino company’s sales, the total revenue for the quarter was down 14.6%.
Cook also highlighted Apple’s investment in artificial intelligence, which the company now uses to recommend content to users and even spot usage patterns to improve a device’s battery life.
Despite this news, research firm Consumer Intelligence Research Partners said people are waiting longer to upgrade to the newest iPhone.
Advertisement
The history of the growth of the iPhone shows the spread of the device around the world as new markets have joined the army of fan boys (and girls).
