Apple reports 4% fall in quarterly sales as it suffers downturn in China
By Daily Mail City & Finance Reporter
Updated:
Sales slump: Apple’s revenues for the three months to the end of March fell to £72.4bn
Technology giant Apple last night reported a 4 per cent fall in quarterly sales as it suffered a downturn in China.
The iPhone maker’s revenues for the three months to the end of March fell to £72.4billion but were better than analysts had feared.
And chief executive Tim Cook said he expected a return to sales growth in the current quarter as it invests in AI features to be unveiled in the coming months.
Shares in the California-based company have fallen by 10 per cent so far this year on fears of weak sales in China where it is facing tough competition from rival Huawei.
Last night’s figures showed sales in the country fell 8.1 per cent to £13.1billion – but that was better than the £12.4billion predicted by analysts.
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Apple reports 4% fall in quarterly sales as it suffers downturn in China
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