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Tuesday, April 26, 2016

Apple reveals sales drop

Apple says its quarterly sales until 26th March 2016 were $50.6 billion (£34.7 billion), a year-on-year drop of 13%. It’s the first time since 2003, before the iPhone was released, that the company’s quarterly sales have fallen.

The company had previously warned that slow iPhone sales would affect its earnings.

Quarterly iPhone sales were just under 51.2 million units, down by around 10 million units year-on-year.

Apple's quarterly profit was down to $10.5 billion.

Tim Cook, Apple’s CEO, said “Our team executed extremely well in the face of strong macroeconomic headwinds. We are very happy with the continued strong growth in revenue from Services, thanks to the incredible strength of the Apple ecosystem and our growing base of over one billion active devices.”

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