Apple’s sales continue to follow a downward trajectory.
The negative trend exists against the background of the global economic downturn. Consumers, whose financial capabilities are becoming increasingly limited due to rising prices, are transferring to a more favorable period for buying computers and iPads.
The technology giant reported that in the first three months of this year, its revenue decreased by 3% compared to the result of a year ago. In the period from January to March 2023, the company earned $94.8 billion.
The tech giant’s sales level has been declining for the second quarter in a row. But the fall was not as tragic as many feared. The level of iPhone sales has remained stable. In addition, the company has attracted new customers in foreign markets. These circumstances have mitigated the financial consequences of declining sales.
In a communication with analysts, Apple CEO Tim Cook announced an increase in sales of the company’s products in India. The technology giant directs significant funds to activate activities in the market of this country. In April, Tim Cook personally visited India on the occasion of the opening of the first two official brand stores in this state. The head of the company noted that there is enthusiasm for Apple in the Indian market, which he admires and is excited about.
The technology giant is currently one of the leaders in the global retail market, and its performance indicators are perceived as a kind of indicator of the state of affairs in this commercial space.
Apple says that currently the activity is carried out in a difficult macroeconomic environment. Other companies also declare difficult financial realities, noting that the rising cost of living and uncertainty in the economy entails a drop in consumer activity.
Earlier, Apple warned investors that sales could fall by 5% year-on-year in the first three months of this year, but the final result turned out to be more positive.
iPhone sales in the period from January to March of this year in monetary terms amounted to $ 51.3 billion. This figure is 1.5% higher than the result of a year ago. The company claims that the positive tendency is due to the growth of smartphone sales in Latin America and South Asia.
In India, the tech giant’s sales are showing double-digit growth. Tim Cook said that there are growth prospects in this market related to the expansion of the middle class. Also, according to the head of the company, India is currently at a turning stage in its economic development.
Sales of Apple’s service division, which includes Apple Music, Apple News, and Apple Pay, grew by 5% year-on-year in the first three months of 2023, amounting to more than $ 20 billion.
In the European market, the tech giant’s sales increased by more than 2% from January to March. In North and South America, a decline of more than 7% was recorded over the same period.
As we have reported earlier, Apple Releases First Rapid Security Fixes for iPhones, iPads and Macs.