Apple sees iPhone sales drop again

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Apple has reported a second consecutive quarter of falling iPhone sales, but the 15% drop was not as bad as analysts had feared.

The US tech giant sold 40.4 million iPhones in its third quarter, slightly above forecasts of 40.02 million.

Apple chief executive Tim Cook said the results reflected “stronger customer demand… than we anticipated”.

The firm said it expected sales to fall again in the fourth quarter to between $45.5bn (£34bn; €41.4bn) and $47.5bn.

Demand for Apple’s flagship product has been slowing since the second quarter when the firm reported the first drop in iPhone sales since their 2007 launch.

The iPhone makes up for around two-thirds of Apple’s sales and accounts for even more of its profits.

The slowdown in iPhone sales sent profit down 27% to $7.8bn in the three months to 25 June, while revenues fell 14.6% to $42.4bn.

Image copyright Justin Sullivan, Getty Images

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