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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