Customers queuing for Apple product
Report has it that even Apple had falling in a third quarter role, iPhone sales was still able to beat its analyst expectations on their sales, taking their sales to 45.51 million iPhones in just three months beating the average estimate of 44.8 million.There was also forecast of higher-than-expected holiday season revenue of between $76 billion and $78 billion by the tech company, however the revenue in the fourth quarter fell 9% to $46.85 billion.
With this analysis it means annual revenue fell for the first time since 2001, and it has highlight a slowdown in the smartphone market as well as intensifying competition, particularly from Chinese rivals, Rory Cellin-Jones as Technological correspondent from BBC said.
As the saying goes, human wants are insatiable, so, Apple's technology crowd however are still waiting for some radical new innovation, to prove the company founded by Steve Jobs hasn't lost its creative spark.
Tim Cook wouldn't be drawn when quizzed about moves into TV or building a car or a connected speaker like the Amazon Echo.
He did say "we have the strongest product pipeline we've ever had". But that is a line we have been hearing for some time.
Apple executives said demand for the new iPhone 7 was strong, despite fiscal fourth-quarter revenue falls in China and the Americas, its two most important markets.
Revenue from Greater China, once seen as Apple's next growth hope, fell 30% in the quarter, after dropping 33% in the previous quarter.
In the same period last year, revenue from Greater China doubled.
Apple's shares were down 3% at about $114.80 in after-hours trading.
"Apple didn't have a great (fourth quarter) as iPhones, Macs, China, the US and what appears to be Watch were down," said Patrick Moor-head, an analyst at Moor Insights & Strategy.
Net income fell to $9.01 billion in the fourth quarter, down from $11 billion in the same quarter last year.
For the year, net income fell to $45.7 billion from $53.4 billion.
Chief Financial Officer Luca Maestri said it was "impossible to know" if there was any effect yet from rival Samsung halting production of Galaxy Note 7 phones earlier this month.
Apple executives said demand for the new iPhone 7 was strong, despite fiscal fourth-quarter revenue falls in China and the Americas, its two most important markets.
Revenue from Greater China, once seen as Apple's next growth hope, fell 30% in the quarter, after dropping 33% in the previous quarter.
In the same period last year, revenue from Greater China doubled.
Apple's shares were down 3% at about $114.80 in after-hours trading.
"Apple didn't have a great (fourth quarter) as iPhones, Macs, China, the US and what appears to be Watch were down," said Patrick Moor-head, an analyst at Moor Insights & Strategy.
Net income fell to $9.01 billion in the fourth quarter, down from $11 billion in the same quarter last year.
For the year, net income fell to $45.7 billion from $53.4 billion.
Chief Financial Officer Luca Maestri said it was "impossible to know" if there was any effect yet from rival Samsung halting production of Galaxy Note 7 phones earlier this month.
Source: BBC-News......................
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