In the last few years with the launch of new Apple products, we’ve all seen a gradual decline in the number of sales. Due to this gradual decrease in the sales, especially in the sales of the recent iPhones, the company that has been dominating the industry for over a decade has now reached an all time low. Among the experts, it was well known that the sales of iPhones has slowed down, what nobody was prepared for was how bad iPhones have done in the past couple of months.
Tim Cook, CEO of Apple mentioned “weak demand” which reflects towards his thoughts on change in the preferences of all Apple customers and how the upgrade cycle has stretched out even further. With the announcement made a couple of days ago where Apple talked about disappointing earnings and how the company’s stock have continuously dipping to now a total of 38 percent down since October as the shares sit at $ 142.19 compared to $ 232.07 in October.
Also, with the on-going US-China trade war, this downfall would have been anticipated considering that sales in China account for 20 percent of the total Apple sales. Owing to this, local competitors like Huawei have been making the most of this opportunity to grasp a stronger hold over the Chinese market.
In India, the reasons may be a little different. With Apple products cost sky-rocketing, it has led to a major chunk of customer holding on to their older iPhones for longer or turning to Android devices.
Experts believe that all other products doing good in the market, from iPads to Apple Music to other hardware and services, their sales have surprisingly gone up by 19 percent and is the only reason Apple’s stock didn’t sink even further.