Apple is still making a ton of money, but judging from their latest quarterly report, they might need to do something if they want to remain as dominant as they've been in the smartphone business. Just as it was during the previous quarter, they are now selling fewer phones than in the same period last year.
In total 40.4 million Iphones were sold, which is 15% fewer than the same quarter in 2015. To make things worse, the average price of an iPhone has declined to $595 from last year's $662. This is partly due to the launch of the cheaper iPhone SE.
The sales of Mac computers is also down to 4.25 million, which is 10.5% lower than the same quarter last year, and this is also true for iPads, which sold 10 million, which is 8.3% lower.
It's worth noting that most analysts had expected even worse results from Apple, and in that light the report was above expectations which led to a boost in the stock market.
Thanks, Wall Street Journal.