Jan 30, 2019

Apple hints at lower iPhone prices as sales fall

Sales of the Apple iPhone have fallen hitting the tech giant's financial performance. The firm's revenue fell 5% from a year ago to about $84.3bn in the most recent quarter, with iPhone sales down 15% to about $52bn. Executives have said they remain confident that growth in its services business, which includes Apple Pay and the App store, will drive future performance. Revenue from the services business jumped 19% to a record $10.9bn in the quarter, which ended on the 31 December. "While it was disappointing to miss our revenue guidance, we manage Apple for the long term, and this quarter's results demonstrate that the underlying strength of our business runs deep and wide," said Tim Cook, Apple's chief executive.

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