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| − | + | SubscriptionsGo to the Subscriptions Centre to manage your:My ProfileApple Inc. Reported a surprise fall in iPhone sales for the second quarter on Tuesday, indicating that customers had held back purchases in anticipation of the 10th anniversary edition launch of the company's most important product.Shares of iPhone Cases the world's most valuable listed company were down two per cent at $144.40 US in after hours trading.Apple considers bid for big stake in chip businessApple unveils cheaper iPad, red iPhonesApple sold 50.76 million iPhones in its fiscal second quarter ended April 1, down from 51.19 million a year earlier.Analysts on average had estimated iPhone sales of 52.27 million, according to financial data and analytics firm FactSet.Apple Chief Financial Officer Luca Maestri argued the decline was not as bad as it looked, given the peculiarities of how phone sales are calculated.The company reports what are called "sell in" figures for the iPhone, a measure of how many units it sells to retailers, rather than "sell through" figures, which measure how many phones are actually sold to consumers.Maestri said the company reduced the volume of inventory going through its retail channel by about 1.2 million units in the quarter, meaning the company sold about 52 million phones to customers on a sell through basis.Despite the dip in unit sales, iPhone revenues rose 1.2 percent in the quarter, helped by a higher average selling price.Looking to next iPhoneExpectations are building ahead of Apple's 10th anniversary iPhone range this fall, with investors hoping that the launch would help bolster sales.Apple typically launches its new iPhones in September.A big jump in sales usually follows in the holiday quarter, before demand tapers over the next few quarters as customers hold back ahead of the next launch.Apple's 10th anniversary iPhone range might sport features such as wireless charging, 3 D facial recognition and a curved display."There is a general softening in phone demand to contend with as well as expectations of a big upgrade, all of which softens the blow of this quarter's miss," said James McQuivey, a Forrester Research analyst. 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Latest revision as of 00:55, 3 May 2019
SubscriptionsGo to the Subscriptions Centre to manage your:My ProfileApple Inc. Reported a surprise fall in iPhone sales for the second quarter on Tuesday, indicating that customers had held back purchases in anticipation of the 10th anniversary edition launch of the company's most important product.Shares of iPhone Cases the world's most valuable listed company were down two per cent at $144.40 US in after hours trading.Apple considers bid for big stake in chip businessApple unveils cheaper iPad, red iPhonesApple sold 50.76 million iPhones in its fiscal second quarter ended April 1, down from 51.19 million a year earlier.Analysts on average had estimated iPhone sales of 52.27 million, according to financial data and analytics firm FactSet.Apple Chief Financial Officer Luca Maestri argued the decline was not as bad as it looked, given the peculiarities of how phone sales are calculated.The company reports what are called "sell in" figures for the iPhone, a measure of how many units it sells to retailers, rather than "sell through" figures, which measure how many phones are actually sold to consumers.Maestri said the company reduced the volume of inventory going through its retail channel by about 1.2 million units in the quarter, meaning the company sold about 52 million phones to customers on a sell through basis.Despite the dip in unit sales, iPhone revenues rose 1.2 percent in the quarter, helped by a higher average selling price.Looking to next iPhoneExpectations are building ahead of Apple's 10th anniversary iPhone range this fall, with investors hoping that the launch would help bolster sales.Apple typically launches its new iPhones in September.A big jump in sales usually follows in the holiday quarter, before demand tapers over the next few quarters as customers hold back ahead of the next launch.Apple's 10th anniversary iPhone range might sport features such as wireless charging, 3 D facial recognition and a curved display."There is a general softening in phone demand to contend with as well as expectations of a big upgrade, all of which softens the blow of this quarter's miss," said James McQuivey, a Forrester Research analyst. "If we see Apple downplaying expectations before the next upgrade cycle, it might mean that the company isn't confident it will beat those expectations.".
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