Apple revenue falls for first time since 2003 | The Daily Star
Skip to main content
E-paper বাংলা
T
TODAY’S NEWS
"Some parents collect leaked questions for children, all for GPA-5" Pollution in Bangladesh: The invisible tango with death Tk 2,000 crore refinance scheme for shipbuilding industry What to wear for a job interview DU’s BCL-JCD activists clash near High Court; gunshots heard Journalist says beaten up by BCL men while covering clash South Korean HKD Group to invest $35 million in Bepza economic zone BCB forms inquiry committee following allegations in Women’s DPL Who will you fall in love with based on their zodiac signs? India trumpets pro-business, foreign investment drive at Davos No Covid-19 deaths in 24 hours, positivity rate 0.65% 2 "Ansar al Islam activists" arrested in Dhaka Tigers failing to duck another disaster Doors of economic zones open for Indian investors: DCCI president Under new identity, death row convict militant Mufti Hai was hiding in N’ganj
The Daily Star
Journalism Without Fear or Favour
Friday, May 27, 2022
  • E-paper
  • বাংলা
TODAY’S NEWS
"Some parents collect leaked questions for children, all for GPA-5" Pollution in Bangladesh: The invisible tango with death Tk 2,000 crore refinance scheme for shipbuilding industry What to wear for a job interview DU’s BCL-JCD activists clash near High Court; gunshots heard Journalist says beaten up by BCL men while covering clash South Korean HKD Group to invest $35 million in Bepza economic zone BCB forms inquiry committee following allegations in Women’s DPL Who will you fall in love with based on their zodiac signs? India trumpets pro-business, foreign investment drive at Davos No Covid-19 deaths in 24 hours, positivity rate 0.65% 2 "Ansar al Islam activists" arrested in Dhaka Tigers failing to duck another disaster Doors of economic zones open for Indian investors: DCCI president Under new identity, death row convict militant Mufti Hai was hiding in N’ganj
The Daily Star
Friday, May 27, 2022 | Journalism Without Fear or Favour
  • Home
  • News
    • Bangladesh
    • Asia
    • World
  • Views
    • Editorial
    • Opinion
    • Letters to the Editor
  • Health
    • Diseases
    • Healthcare
    • Food
  • Coronavirus
  • Sports
    • Cricket
    • Football
    • More Sports
  • Business
    • Economy
    • Global Economy
    • Organisation News
  • Entertainment
    • TV & Film
    • Music
    • Theatre & Arts
  • Culture
    • Art & Design
    • Books
  • Life & Living
    • Fashion & Beauty
    • Food & Recipes
    • Health & Fitness
  • Youth
    • Education
    • Careers
    • Young Icons
  • Tech & Startup
    • Science, Gadgets, and Tech
    • Startups
    • Automobiles
  • Feature
    • Lifestyle
    • Arts & Entertainment
    • Showbiz
    • Star Health
    • Satireday
    • Shout
    • Toggle
    • Star Literature
    • In Focus
    • Star Youth
    • Law & Our Rights
    • Daily Star Books
    • Roundtables
    • Supplements
  • Environment
    • Climate crisis
    • Natural resources
    • Pollution
  • NRB
বাংলা T
  • Home
  • News
    • Bangladesh
    • Asia
    • World
  • Views
    • Editorial
    • Opinion
    • Letters to the Editor
  • Health
    • Diseases
    • Healthcare
    • Food
  • Coronavirus
  • Sports
    • Cricket
    • Football
    • More Sports
  • Business
    • Economy
    • Global Economy
    • Organisation News
  • Entertainment
    • TV & Film
    • Music
    • Theatre & Arts
  • Culture
    • Art & Design
    • Books
  • Life & Living
    • Fashion & Beauty
    • Food & Recipes
    • Health & Fitness
  • Youth
    • Education
    • Careers
    • Young Icons
  • Tech & Startup
    • Science, Gadgets, and Tech
    • Startups
    • Automobiles
  • Feature
    • Lifestyle
    • Arts & Entertainment
    • Showbiz
    • Star Health
    • Satireday
    • Shout
    • Toggle
    • Star Literature
    • In Focus
    • Star Youth
    • Law & Our Rights
    • Daily Star Books
    • Roundtables
    • Supplements
  • Environment
    • Climate crisis
    • Natural resources
    • Pollution
  • NRB

  • About Us
  • Contact Us
  • SMS Subscription
  • Apps
  • Comment Policy
  • RSS
  • Sitemap
  • Advertisement
  • Newsletter
  • Privacy Policy
  • Conference Hall
  • Archives
Business

Apple revenue falls for first time since 2003

BBC Online
Wed Apr 27, 2016 11:42 AM Last update on: Wed Apr 27, 2016 11:51 AM
Customers queue up for Apple's new iPhone SE in front of an Apple store in the Ginza shopping district in Tokyo on March 31, 2016. The iPhone SE goes on sale in Japan. Photo: KAZUHIRO NOGI / AFP

Apple reported a 13% drop in its second quarter revenue on Tuesday as sales of iPhones slipped.

The technology giant reported quarterly sales of $50.56bn (£34.39bn) down from $58bn last year - the first fall in sales for the company since 2003.

For all latest news, follow The Daily Star's Google News channel.

Apple sold 51.2 million iPhones during the quarter, down from 61.2 million in the same quarter of 2015.

China was a particular weak spot - sales there fell 26%. Results were also hit by the impact of a stronger dollar.

Apple shares fell 8% in afterhours trading. Its shares have fallen close to 20% over the last twelve months.

Apple's chief executive Tim Cook said the company performed well "in the face of strong macroeconomic headwinds".

Apple's quarterly profit slipped to $10.5bn from $13.5bn.

Nevertheless, it announced it would return $50bn to shareholders through an increase in share buybacks and a 10% increase in quarterly dividends.

Sales slowdown

Back in January the company warned that it was experiencing its slowest-ever increase in orders for iPhones and that this would cut into second quarter earnings.

Declining growth in smartphone sales has had an impact on the entire industry and companies are struggling to find the next area of innovation.

"The industry is in a lull between the mobile boom and what comes next in automotive, the connected home, health and industrial applications of the internet of things," said Geoff Blaber, from CCS Insight.

One bright spot for Apple was its services unit, which includes App Store downloads, Apple Pay and Apple Music. The division experienced a 20% growth compared with the same quarter in 2015.

However, growth at that unit could be threatened by a new law in China passed in March. It requires all content shown to Chinese people to be stored on servers based on the Chinese mainland.

As a result Apple's iBooks and iTunes movies service were shut down in the country.

Apple said it hoped access to the services would be restored soon.

Apple vs. FBI

Apple was recently in a standoff with the US government over whether the company should help the FBI unlock an iPhone.

The FBI wanted Apple to build a program to unlock the iPhone of San Bernardino shooter Syed Rizwan Farook.

Apple refused, calling the government's order a violation of its rights. The FBI eventually turned to outside hackers to break into the phone.

Related topic
Apple / iPhones / iphone / Apple Inc. / apple logo / business
Apple Google
Click to comment

Comments

Comments Policy

Related News

Economy

Philippines cancels license of remittance firm after BB heist probe

Global Business

Apple’s new iPhones shift smartphone camera battleground to AI

Country

2 businessmen held over BASIC Bank loan scam

Google mass legal action
Business

London court blocks Google mass legal action over iPhone data collection

Careers

Apple’s CarPlay: A quiet revolution?

The Daily Star  | বাংলা
২ ঘণ্টা আগে|যাওয়া-আসা

ঢাকা-টরন্টো ফ্লাইটের ট্রানজিট ম্যানচেস্টারে নয়, ইস্তাম্বুল বা অন্য কোথাও: বিমান

বিমান বাংলাদেশ এয়ারলাইনসের ঢাকা-টরন্টো রুটে ফ্লাইটের ট্রানজিট কোথায় হবে, তা এখনো চূড়ান্ত হয়নি।

২ ঘণ্টা আগে|স্টার মাল্টিমিডিয়া

মাঙ্কিপক্স কি মহামারি রূপ নিতে পারে?

The Daily Star
Follow Us
  • About Us
  • Contact Us
  • SMS Subscription
  • Apps
  • Comment Policy
  • RSS
  • Sitemap
  • Advertisement
  • Newsletter
  • Privacy Policy
  • Conference Hall
  • Archives
© 2022 thedailystar.net | Powered by: RSI LAB
Copyright: Any unauthorized use or reproduction of The Daily Star content for commercial purposes is strictly prohibited and constitutes copyright infringement liable to legal action.