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Apple Reports Low iPhone Sales In Third Quarter

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Apple Reports Low iPhone Sales In Third Quarter

Apple shipped a total of 40.4 million units in the three months span, 15% less than the same quarter in the previous year. In July 2015, Apple shipped 47.5 million iPhones. The revenue of the company stood at $42.4 billion, again lesser than the previous year, which was $49.6 billion. The quarterly net income stood at $7.8 billion.

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In the quarter, Apple sold 10 million units of iPad and 4.3 million units of Mac. The company did not disclose the Apple Watch shipments, instead reported a revenue combining the revenue from Apple TV, iPod, Beats headphones, and branded accessories. Together, these segments of Apple generated $2.22 billion.

“We are pleased to report third quarter results that reflect stronger customer demand and business performance than we anticipated at the start of the quarter,” Apple Chief Executive Tim Cook said.

“We had a very successful launch of iPhone SE and we’re thrilled by customers’ and developers’ response to software and services we previewed at WWDC in June.”

The services business grew 19% year-on-year. App Store revenue was also the highest. According to Apple’s Chief Financial Officer Luca Maestri, Apple was able to return over $13 billion to investors through share repurchases and dividends and completed almost $177 billion of our $250 billion capital return program.

For the 2016 fourth quarter, Apple is expecting a revenue between $45.5 billion and $47.5 billion. The company predicts the operating expenses between $6.05 billion and $6.15 billion.

Ria Lakshman. V is a lead news writer at The Telecom Times. She studied Journalism at Manipal School of Communication and proceeded to work in newspapers and magazines, with technology as her focus area. Passionate about Telecommunications sector, her move to 'The Telecom Times' was a natural choice. Alongside, she also writes for Telecom Talk, where she covers news and tech commentaries in the sector of telecom. In the free time, Ria loves to go camping, read books, or sketch illustrations. She also runs a local design studio and promotes eco-friendly crafts. Ria can be found sharing her knowledge and insights on Twitter.

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