Revenue from “Greater China” slumped 33 percent from a year ago to US$8.8 billion. And a modestly better forecast for the current quarter sent Apple shares up almost 7 percent in late trading, after closing at $96.63. This was still a tad better than the average analyst estimate of $42.2 billion.
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“The numbers aren’t getting any worse and we’re getting into a new iPhone cycle soon”, the analyst noted. While consumers were quick to snap up the iPhone 6 and 6 Plus in the fall of 2014, the iPhone 6s and 6s Plus haven’t generated the same level of interest.
Apple once again declined to give Apple Watch sales figures, but a 16 per cent drop in the firm’s “other products” revenue suggests that sales of the smartwatch are slowing down. The shares have lost more than a fifth of their value in the past year amid mounting concerns about the slowdown.
Citing “leading financial partners”, Apple CEO Tim Cook says 3 out of 4 contactless payments made in stores in the US were done using Apple Pay, the company’s mobile payments service.
George Frey/Stringer/Getty ImagesApple beat expectations in its most recent quarter, and its stock is jumping. It even led to the company posting its first quarterly revenue drop in 13 years last quarter. It also demonstrates Apple’s desire to create original programming as a way of drawing more people to purchase music and videos on iTunes and Apple TV. But in 2013, only 34 per cent of iPhone owners would wait. Worldwide sales accounted for 63% of the quarter’s revenue.
However, Mark Brill, senior lecturer in digital communication and future media at Birmingham City University, said he felt the success of Pokemon Go was also more to do with the subject matter itself rather than the technology.
These statements, however, mask the fact that the sales of the company’s flagship product, the iPhone, continued to decline, along with those of the Mac computer and the iPad tablet.
During the conference call with investors, Cook said the global launch of the iPhone SE was successful and the “demand outstrips supply throughout the quarter”. “There’s a higher high and a lower low”.
“Apple’s refusal to provide third-party apps with any access to the NFC functionality of its devices sets it apart from other hardware manufacturers … and Third Party Wallet Providers such as Google, Samsung and Microsoft”, reads to the application. The company’s profits also fell by more than 25% from the same period a year earlier. Revenue jumped 51 per cent there in the first nine months of the year.
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He said Apple will start opening retail stores in India soon.
