iPhone sales continue to decline in parallel with the rise in sales of Apple services

Apple reported small gains in sales for the third quarter of its fiscal year, as it announced financial results for the second quarter of this year. Despite the decline in iPhone sales, the company has achieved the difference in higher revenues in services such as the software store and music services. Sales rose 1% to $53.8bn (£44.3bn), while net profit fell 13% to $10bn, and the company halted some of the decline in its sales to China.

The results beat Wall Street estimates and shares rose 3.5% to $216.10 in late trading hours yesterday evening. For the first time since 2012, iPhone sales represent less than half of the company's total sales, with device sales falling by $741 million in this period last year. In China, sales fell 4% to $9.16 billion, after falling 22% in the second quarter.

China is still suffering from selling its phones in this major market, and perhaps the biggest reason is that its phones are very expensive for Chinese consumers who prefer Huawei phones and other competing companies. Apple expects sales between $61 billion and $64 billion for the final three months of its fiscal year, or the third quarter of 2019. This quarter underscores that: Although iPhone sales continue to shrink, the company's revenues are up overall, thanks to booming success through the Wearables, Home and Accessories category (so: Apple Watch, and mostly AirPods) and continued growth of its services (App Store), Apple Pay, Apple TV, and Apple Music. and others).

Apple is turning to services more, as it has launched many of them in recent months, and thus it is turning into a service company more than a device maker. #Apple #iPhone #iPhone sales