Apple Inc. is facing a rare situation at present . The sales of the iPhones have drastically seen the downfall since its launch 13 years ago.
The California-based silicon manufacturing company has its own analysis for the decreasing trend in their products sales. The growth has just paused a little bit.
In 2007, the iPhone giant has started its smartphone sales and till date, it stood as one of the leaders in the front row of sales. The third quarter reports of the company stated that the sales have decreased globally. Till now, the silicon manufacturer has sold around 5.11 crore units of the iPhones.
The net profit has recorded at $10.5 billion. A total of 16% decline in the sales has been observed. Surprisingly the sales in India has increased for the Apple iPhone.
Nearly 56% increase has been recorded in the Indian mobile market. India is the third largest country for smartphone sales in the world. The only concern for the company in India is the unpredicted policies and market behaviour.
The Apple Inc. also expressed its concern about Indian telecom networks which are weak in the signals. This factor also affects the sales. The cheap phones in the market available and the public interest towards them is a major factor in sales downfall.
But still Apple company sees Indian as the best market for their growth.
Tim Cook has expressed happiness for the smart watch sales. He stated that the company has met its expectations regarding the product. But the sales figures or any other details pertaining it are not disclosed.
Wall Street on Wednesday witnessed the share prices of the Apple Inc. go down by more than 6% landing at $97.82 at the time of stock market closure.