Apple iPhone sales fall, but beat estimates

Apple iPhone sales fall, but beat estimates

Apple iPhone sales fall, but beat estimates

Written by Ranee Mohamed

26 Oct, 2016 | 6:34 am

Apple has reported its third quarter in a row of falling iPhone sales and revenue, but sales beat analyst expectations.The tech giant sold 45.51 million iPhones in the three months to 24 September, beating an average estimate of 44.8 million.

The company also forecast higher-than-expected holiday season revenue of between $76bn and $78bn.But revenue in the fourth quarter fell 9% to $46.85bn.

That meant annual revenue fell for the first time since 2001, highlighting a slowdown in the smartphone market as well as intensifying competition, particularly from Chinese rivals.

 

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