Struggling to sell iPhones, Apple blames customers for not upgrading

China Takes Wind Out Of Apple iPhone Sales

This comes a day after CEO Tim Cook announced a revision to Apple's revenue guidance for the last quarter of 2018. "In fact, categories outside of iPhone (Services, Mac, iPad, Wearables/Home/Accessories) combined to grow nearly 19 percent year-over-year", also stated Cook.

Apple saw "fewer iPhone upgrades" than anticipated thanks to the battery replacement program and the other aforementioned factors, which is why the company is now lowering its expected revenue estimates. Based on our best estimates of how these would play out, we predicted that we would report slight revenue growth year-over-year for the quarter.

"While it's disappointing to revise our guidance, our performance in many areas showed remarkable strength in spite of these challenges", he said.

All three major United States indices tumbled as Apple's dramatic nine per cent fall at the open sparked another painful day for investors.

"As the climate of mounting uncertainty weighed on financial markets, the effects appeared to reach consumers as well, with traffic to our retail stores and our channel partners in China declining as the quarter progressed", he wrote. While usually Apple would be celebrating another successful holiday season, things didn't quite go to plan this time around.

Apple has shaken the business world by lowering its sales and revenue forecast for the next quarter.

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Tottenham cruised to a 3-0 victory away to Cardiff City on Tuesday, as they moved up to second in the Premier League table. And the Spurs boss said he was delighted with the way his players handled their fourth league game in 10 days.

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Apple shares, which were halted prior to the news, closed marginally up at $157.92 but the shares slid some 7.6 percent in after-hours trade on the news.

Hassett added Thursday, noting that he was a "globalist" before joining the Trump administration: "If we have a successful negotiation with China, then Apple's sales and everybody else's sales will recover".

Following a massive scandal over its practice of deliberately slowing down older iPhones, Apple reduced the price for its battery replacements, charging $29 instead of $79 in 2018. It didn't have the latest and greatest specs to satisfy the hardcore Apple fanboy, but at $750, it is still a fairly expensive upgrade for consumers used to that baseline $650 for a new iPhone.

In a letter to investors, Mr Cook said that slower growth in China was largely responsible for the shortfall, pointing to an escalating trade war with the US. China is Apple's third-largest market after the USA and Europe. To wit, sales of services (like Apple Music and iCloud) generated more than $10.8 billion in revenue during the quarter, Apple said, growing to a new quarterly record in every geographic segment.

It's too early to say whether the trade-in program will help Apple attract new users.

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