Technology News: Apple's iPhone Past Quarter Sales Percentage Drops
May 1, 2019 | Wednesday
Through the years, Apple's iPhone considered being the company's significant money making product. However, during the first three months of the year 2019, the tech giant sold $31 billion worth of iPhone products.
On Tuesday, the iPhone's revenue only deemed for 53.5 percent of Apple's revenue during the fiscal second quarter. That lower compared to its 61.4 percent deemed sales last year during the same quarter. Also, it went lower compared to the 2018 ending quarter, accounted for 61.7 percent of the company's overall sales.
The tech giant's iPhone product is becoming less significant to the company's overall total sales, somehow caused by the growing smartphone industry worldwide.
Meanwhile, a smaller share of iPhone's profit showed that the company is gaining more at selling other software and hardware products coming from its base 900 million users.
Included to iPhones declining importance on the company's balance sheet is its decreasing sales. Fact is, the iPhone's revenue was down by 17.33 percent year-over-year. However, still, part of the iPhone's other product categories can be considered having growth.
According to Tim Cook, Apple's CEO, there are two big growing businesses pointed out during a call with analysts. That of which are the subscriptions in iCloud & Apple Music and Apple's Wearable products including Apple Watch and AirPods.
According to Cook, the previous quarter is their company's best quarter in the said services. Apple reached "$11.5 billion" revenue, up by 16 percent compared to its $9.19 billion sales last year during the same quarter. The company emphasizes its services. The company held an event last March launching its new services - a credit card and two new video services.
According to Dan Ives, Wedbush analysts Apple's streaming is estimated to gain about 100 million users in the next three years.
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