As is traditional, quarterly results are reported on Wall Street and other financial centres. After those of Huawei and pending Samsung, the results of Apple have just been published for the third fiscal quarter.
The result is not surprising: iPhone sales are down compared to last year, which confirms the downward trend expected by the markets.
Sales reached $25.99 billion, compared to $29.47 billion last year. This is the first time that iPhone sales have made up less than 50 per cent of the total revenue generated by the company during these three months.
The good news is that Apple’s services branch (Apple Pay, App Store, iTunes, Apple Music, iCloud, etc.) grew by 15 per cent in one year and reached $11.5 billion.
But it is mainly wearables (AirPods, Apple Watch) and connected home products that have experienced strong growth, rising from $3.7 billion in June 2018 to $5.5 billion at the end of June 2019.
The services, AirPods and Apple Watch can compensate for the drop in sales of the iPhone – but for how long?