Home News Apple faces the first decline in revenues and profits in a decade

Apple faces the first decline in revenues and profits in a decade

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Apple’s latest scandal regarding a FaceTime bug that enables people to listen to you even if you don’t pick up the call had serious consequences for the company.

Apple announced on Tuesday that the company experienced its first decline in revenues and profits in a decade.

The decrease in iPhone sales and problems in China led to 4,5% decrease in revenue in the week of 29 December, compared to the same period last year.

Profits declined to $19,97 billion.

Revenues from China have decreased to $13,17 billion, $5 billion less than the previous year.

The company stated on January 3rd that it was expecting a decrease in sales due to the economic recession in China.

The warning came as the first ever since the release of iPhone, causing the company to lose $55 billion in value.

Company’s share value increased by 6% in the first 6 hours of trading.

It turned out that analysts’ were right on their forecasts.

On the other hand, Apple’s revenues were higher than expected.

 

 

 

 

 


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