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Apr 29, 2016

Mobility News Briefing - April 29

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Apple's Second Quarter Results show revenue down for the 1st time in 13 years...

The story: On Tuesday Apple shared their Second Quarter Results and the report shows a decrease in revenue and iPhone sales. This was the first ever decline in iPhone sales and the first decline in revenue in 13 years, needless to say, it didn't go unnoticed.

What happened?

iPhone sales went from 61.2M in Q2 of 2015 to 51.2M in Q2 of this year. Julia Love and Anya George Tharakan of Reuters reported that sales in China, Apple's second most important market after the United States, were a main culprit of the decrease in iPhone sales as they were down over 25%. James Titcomb reported on The Telegraph UK that while Apple saw the decline in revenue coming, the numbers came in even lower than expected. To make things worse, Apple shared that it is likely sales will be down again this quarter, Q3 of 2016.

The cause?

Tim Cook, CEO of Apple, the world's biggest listed company, remains optimistic and was quoted in the press release saying "Our team executed extremely well in the face of strong macroeconomic headwinds." He also commented on their services division which includes sales of apps and music saying "We are very happy with the continued strong growth in revenue from Services, thanks to the incredible strength of the Apple ecosystem and our growing base of over one billion active devices.”

Other speculations?

Sales of the Apple Watch weren't included in the quarterly results, another culprit? Or at least a sign that the sales aren't anything to brag about. Also there's speculations that sales are down because so many people already have an iPhone and are holding on to what they've got rather than going out and buying the shiny new version.

Olivia Holmes

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