The iPhone helped catapult Apple to become the world's most valuable company. Now, the smartphone is dragging down the business as sales have fallen 17% from the previous year.
New York At one time, the staggering success of the iPhone helped catapult Apple to become the world's most valuable company. Now, its lackluster smartphone sales are dragging down Apple's business.
Apple said Tuesday that its revenue for the first three months of 2019 declined 5% from the year prior to $58 billion as it grappled with sluggish smartphone demand. iPhone sales for the period fell 17% from the year prior.For years, Apple's iPhone business appeared to defy gravity as the company managed to sell more devices and gradually charge more for them.
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