Technology giant Apple Inc. declared the financial reports for the first quarter of 2017. It was reported that there was a decline in the amount of the iPhone sales which caused the company to look for new features in the next edition of the flagship device if the company wants to deal with its rivals like Samsung.
Beside the falling sales of iPhone, the competitors released their new high-end smartphones recently. As a result, pressures on Apple for releasing a new device that’s advanced enough to satisfy existing users and attract new customers.
Apple had sold 51.2 million iPhones in the first quarter of 2016, while with a decline it sold 50.8 million items in the quarter ended April 1. IPhone sales decreased 0.8 percent, iPad tablet sales down 12.7 percent. According to the Chief Executive Officer of Apple, Tim Cook the reason of this decline is the frequent reports about future iPhones.
Apple announced that net profit and income increased in January-March this year while the sales of iPhone declined. If we look at the other financial statements, it is seen that Apple’s revenue rose 4.5 percent and reached $ 52.9 billion, while net profit rose 4.8 percent and reached $ 11 billion.
In the first quarter of 2017, iPhone sales fell 0.8 percent to 50.8 million and iPad sales decreased 12.7 percent to 8.9 million. On the other hand, Mac computer sales increased by 5 percent to 4.2 million.
The company’s revenue from services such as AppleCare and ApplePay grew 17 percent to $ 7 billion. There is also an increase in the revenue from products such as Apple TV and Apple Watch approximately 32 percent.
Due to the company’s net profit and revenue remained below market expectations, there happened a decrease in the value of the Apple’s shares in the limited transaction following the closing of the New York stock market. Analysts are warning that Apple’s share price decline may continue.