Apple has just posted financial results for holiday quarter, and as you might expect the numbers are pushed down by the tepid sales of iPhones. Between October and December sales plummeted 15%, despite having a higher average selling price. Apple’s products and services went up to 19%, but it couldn’t stop the overall decline of 5%.
During the Holidays, Apple managed to bring in $84 billion, compared to $88 billion in early 2018. Of the overall results, $51 billion were from iPhones, while the services revenue reached the whopping $10.875 billion amount. In a press release, Apple announced a 33% increase in the sales of Wearables, Home and Accessories is an all-time high, along with Mac sales which jumped 9%.
Tim Cook, Apple’s CEO, admitted that iPhone business is unlikely to improve anytime soon and it has to rely on other elements of its portfolio, such as services and subscriptions, in order to keep growing. The company even announced another price cut in the current iPhone line.
iPhones have been Apple’s most important product for generations, with the growing disappointment over the 2018 iPhone-series, the company needs to plan a complete overhaul in its handsets and philosophy in order to be “healthy’ in the segment.