Apple’s iPhone sales down, costing $9 billion in revenue: Here is why
Apple’s sales graph has been declining since the launch of their new iPhones. Ups and down are integral part of any business but the apple’s downfall is big enough to cost them in billions, to be precise it costed $9 billion!
The company’s stock price has fallen by 38% since October 2018. The reason, China’s economy and the US – China trade war has caused much damage as Apple generates 20% of the sale revenue from China alone. Another factor is patriotism by Chinese people as more and more Chinese people are buying Chinese brands over iPhone. Other reasons include the strength of the US dollar and apples cheap battery replacement for old iPhones.
Not only china but low sales have also been seen in countries like India, Russia, Turkey and Brazil which helped Apple causing in billions. But the good news is other than iPhone other Apple products like iPad, Mac and wearables have seen a growth of 19% and we hope this would heal the loss caused by iPhones.
Experts are even saying that apple will share the same fate as Nokia as they flooded the market with phones with no major hardware or feature changes that resulted in low sales of Nokia as people started waiting for the upgrades worth upgrading. The same thing is Apple doing they are releasing phones but upcoming models have minor changes than their predecessors and are priced way high to be in affordable perimeter.
The next Apple’s earning conference is expected to happen by the end of this month i.e. January. Then we will have exact numbers.