Apple sells fewer iPhones but more accessories and services

This article was last updated on August 4, 2023

Canada: Oye! Times readers Get FREE $30 to spend on Amazon, Walmart…
USA: Oye! Times readers Get FREE $30 to spend on Amazon, Walmart…

Declining iPhone Sales Impact Apple’s Turnover

Apple experienced a decline in the sales of iPhones, Macs, and iPads during the past quarter, resulting in a decrease in the company’s total turnover for the third consecutive quarter. The total turnover for the last quarter amounted to nearly 75 billion euros. Analysts attribute this decrease to the rising prices of essential goods.

Furthermore, the global demand for smartphones is declining, which is also contributing to Apple’s decrease in sales. Nonetheless, the company anticipates an improvement in the next quarter, as students are expected to purchase new products for the upcoming school year.

Shift in Revenue Streams

Although Apple experienced a decline in iPhone sales, the company saw an increase in the sales of accessories, such as Airpods. In addition, Apple’s support services, including advertising and streaming services, generated more revenue. These shifts in revenue streams are helping to offset the impact of declining iPhone sales.

Amazon.com Sees Sales Growth Driven by Advertising

The online retail giant Amazon.com also released its quarterly figures, revealing an increase in sales. The company’s advertising revenues, in particular, witnessed significant growth on an annual basis. Amazon attributes this success to its utilization of artificial intelligence, enabling the company to deliver more targeted advertising. This has resulted in a higher demand for advertising services, as stated by analysts.