Apple sold 51.2 million iPhones this quarter - the first decline ever
Apr 27, 2016, 02:02 IST
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That's compared to the 61.2 million it sold in Q2 2015, making this the first time ever in the history of the device that sales fell year-over-year.
That's not a surprise though.
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Analysts were expecting Apple to sell 50.7 million iPhones, which would have been down ~20% YoY.
In the company's last earnings call, CEO Tim Cook said he didn't think iPhone sales would be down that much, but he did say that iPhone sales would most likely be negative for the first time ever. Looks like he was right!
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Apple's CFO blames the declined iPhone sales on people's "slowness to upgrade."
The stock tumbled 5% after hours.
You can read the rest of our comprehensive Apple earnings coverage here.