Apple CEO Tim Cook has revealed that the company has sold its billionth iPhone. The Apple CEO said the iPhone has become one of the most important, world changing and successful products in history. Cook also quoted a Kantar survey which said iPhone purchasers in the USA had a 95 per cent loyalty rate, “the highest ever measured for any smartphone”.
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The iPhone ASP reported by Apple for the April-June quarter underscores the lowest iPhone ASP numbers for the company, and also marks the biggest year-on-year decline in iPhone ASP in the last two years. “We never set out to make the most, but we’ve always set out to make the best products that make a difference”, he added.
As Apple prepares for its next major product launch this fall, the company continues to draw an increasing share of its revenues from services, rather than from sales of devices like the iPhone and iPad.
With iPhone sales and profits sliding, Apple has sought to highlight its growth in services as it seeks to reduce dependence on its main cash driver.
Demand for Apple’s phones has waned in China, partly because of economic uncertainty there, and has also slowed in more mature markets as people tend to hold on to their phones for longer.
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The Apple once is the best innovator in the world with a tough competition from Microsoft. For barely 24 hours earlier, Cook had told investors that iPhone sales had fallen for the second successive quarter (Q3) after recording uninterrupted growth since its introduction in 2007. Apple introduced the first iPod with a loud speaker. Apple yesterday announced that it sold just 40.4 million iPhones in its most recent quarter, a drop from 47.5 million during the same quarter previous year. However, according to most reports, the iPhone 7 will come with only incremental changes. But after the September launch of the iPhone 6s and iPhone 6s Plus, Apple announced yet another smaller variant of iPhone, the iPhone SE.
