Home Business NewsBusiness Apple reports first revenue drop in 13 years as iPhone sales plummet

Apple reports first revenue drop in 13 years as iPhone sales plummet

by LLB Editor
27th Apr 16 9:20 am

This is Apple’s first revenue drop since 2003

Tech goliath Apple has just seen its revenue fall for the first time in 13 years, thanks to a decline in iPhone sales.

Sales for the three months to the end of March stood at $50.6bn (£34.7bn), a drop of 13%.

A sharp decline in iPhone purchases has been blamed for the revenue drop as sales were down from 61 million a year ago to 51 million.

In further bad news for Apple, iPad and Mac computers sales also declined, and quarterly profits were down by 23pc to $10.5bn.

Apple CEO Tim Cook said the company performed well “in the face of strong macroeconomic headwinds”.

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