Apple reports biggest drop in iPhone sales since early months of pandemic – and reveals AI plans

Business

Tech giant Apple has recorded the biggest drop in iPhone sales since the early months of the COVID pandemic.

Sales for January to March were down 10% on the same period last year – something not seen since the 2020 iPhone model was delayed due to lockdown factory closures.

Overall, Apple earned $90.8bn (£72.4bn) in the latest quarter – down 4% from last year. It was the fifth consecutive three-month period that the company’s revenue dipped from the previous year.

Apple’s profit in the past quarter was $23.64bn (£18.85bn) – a 2% dip from last year.

It was good news, however, for the overall value of the company as its share price rose nearly 7% after investors had expected a bigger drop in sales.

Please use Chrome browser for a more accessible video player


2:12

March: Apple accused of locking out rivals

Meanwhile, Apple chief executive Tim Cook has discussed how the company is set to use artificial intelligence (AI).

While rival Samsung introduced phones that can feature AI, including generative AI chatbots, Apple has yet to announce how it will be embedded into its iPhones.

The next iPhone is expected to feature AI microchips and bigger screens.

Apple will reveal the newest software when it holds its annual developers’ conference in June.

Read more:
Apple given £1.5bn fine
Apple sued for ‘having illegal monopoly on smartphones’

Generative AI could power phones to write software code, essays or create images based on a prompt by users.

Mr Cook said the company feels “very bullish about our opportunity in generative AI and we’re making significant investments”, adding: “We’re looking forward to sharing some very exciting things.”

Articles You May Like

Rhode Island & Connecticut’s 704 MW Revolution Wind achieves first ‘steel in the water’
Why the Jets — yes, the Jets — will win the Super Bowl this season
Police probe into funeral directors and ‘missing ashes’ continues as search of parlour concludes
$9 billion travel tech firm Navan on track to hit profitability this year and ‘not far’ from IPO, CEO says
Police: Officer dragged trying to stop Scheffler