Apple Faces 10% Decline in iPhone Sales in Early 2024

Apple Faces 10% Decline in iPhone Sales in Early 2024

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The latest reports have revealed a 10% decline in Apple’s iPhone sales in the first three months of this year.

The recent report reviewed Apple’s sales in the second fiscal quarter of this year, which began on January 1st and ended on March 30th.

The report disclosed a 10% drop in the company’s iPhone sales, while the company’s service revenues increased by 14% compared to the same period last year.

Apple Faces 10% Decline in iPhone Sales in Early 2024

Apple recorded total revenues of $90.75 billion, a 4% decrease from last year, while net income reached $23.63 billion, indicating a decline compared to the previous year.

The report indicates that the main reason for Apple’s sales decline is attributed to Asian markets, particularly the Chinese market, Taiwan, and Hong Kong, in addition to declining sales in the Japanese market and other Asian markets.

On the other hand, the services that witnessed revenue growth include search engine licensing, warranties, and subscription services. The revenue from these services exceeded analysts’ expectations, reaching $23.9 billion.

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