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Apple profits slide 13% amid waning iPhone sales

on Jul 31, 2019 | 0 comments

By John Glenday

The long-heralded arrival of ‘peak iPhone‘ has weighed heavily on Apple’s latest quarterly profits, which have slumped 10% to $13bn.

The double-digit decline was precipitated largely by sales of its flagship handset slowing, slumping by 12% over the same period to hit $25.06bn.

Despite having first launched over a decade ago, Apple continues to derive over half its profits from iPhone sales, making the waxing and waning of its popularity a key indicator of its underlying health.

In recent times the iPhone has acted as a drag on profits rather than supercharging them as consumers resist the urge to Read full story ›

Source: The Drum