Apple's Declining Sales in Global Smartphone Market

SOURCE www.breitbart.com
Apple faces declining sales globally except in Europe, with a 10% drop in iPhone sales in the first three months of 2024. The company attributes the decline to supply disruptions due to the Coronavirus pandemic but remains optimistic for a rebound with upcoming product launches and AI investments.

Key Points

  • Apple's iPhone sales down 10% in the first three months of 2024, contributing to an overall sales decline of 4% to $90.8 billion.
  • Apple attributes the decline to Coronavirus-related supply disruptions.
  • Sales in greater China dropped by 8%, but iPhone sales were up in 'mainland' China.
  • Apple reported flat pre-tax profit for the three months at $28 billion and announced $110 billion for share buybacks.
  • Apple anticipates sales to rise in the 'low single digits' in the three months to June, with double-digit growth expected in services business.

Pros

  • Apple remains optimistic for a rebound in sales with upcoming product launches and investments in AI.
  • Despite the sales decline, Apple's results were not as poor as expected, leading to a small rise in share price.

Cons

  • Apple faces challenges in the global smartphone market with declining sales in almost every region except Europe.
  • Legal battles with regulators in the US and Europe over app store fees and an anti-monopoly lawsuit against Google pose additional challenges.