Everyone loves Apple. The tech giant has recorded profits and sales previously unseen by any company in any field. Every single thing it comes out with is an instant hit, an instant trend. Overpriced or not, people are willing to sometimes even trade an arm and a leg to buy the latest Apple gadget. One hardly thinks of the leaps other operating systems have taken by the time Apple catches up to speed and automatically credits a technological advancement Apple adopts, to it.
All that seems to have taken a hit in 2016. The company, eventually out of ideas tried to repeat their extremely popular iPhone 5s as the iPhone SE and recorded the poorest response to a phone ever. So much so, that unconfirmed reports of Apple planning to hike prices of the iPhone 6 (currently priced lower than the SE) and 6s started pouring in. And now, for the first time since 2003, the company’s revenues have fallen.
Apple has recorded its first sales dip in 2016. The brand sold 51.2 mn units of their beloved iPhones in the first quarter of 2016 as compared to 61.2 min sold in 2015 indicating a 13% decrease—a number worrisome for the giant. The share prices of the company also dropped by 8% in after hour trading and by 20% over the last 12 months.

CEO Tim Cook, however, tried to put up a brave face and said the company performed well “in the face of strong macroeconomic headwinds”, referring to the economic crisis in China, a country that has always been there to prop up its earnings.The iPhone – the most successful technology product in history – is now officially in decline.

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