May 3, 2017
Apple sees surprise fall in iPhone sales
Apple boss Tim Cook blamed a "Pause" as customers wait for the next iPhone. Apple reported a 4.6% rise in revenue across the whole company to $52.9bn, slightly below analysts' forecasts. The dip in iPhone sales was offset by services, including Apple Pay, iCloud and the App store, which recorded an 18% increase in sales to $7bn. Mr Cook also pointed to growth in sales of Apple Watch, as well as its AirPods and Beats earphones. Tim Cook told investors he was also pleased with the continued growth of its Services division - that's things like Apple Music, Apple TV, iTunes and so on - but the health of Apple is only realistically measured with the success of that all-conquering smartphone. "We highlight these facts not to be unduly harsh to Apple, but to indicate that the company has only partially emerged from the slump that hit it over the last fiscal year," Neil Saunders, managing director of GlobalData Retail, wrote in a note.
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