Apple's iPhone Sales Down Again

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SAN FRANCISCO, Jul. 31, 2019 – 

Apple's iPhone receipts declined by 12%, accounting for less than half of the company's revenue in the fiscal third quarter. But despite the slumping iPhone sales and the effects of an ongoing trade war between the U.S. and China, Apple's overall sales improved slightly compared to the year-ago quarter thanks to growth in wearables and services revenue.

Apple sold $26 billion worth of iPhones in the fiscal quarter, accounting for 48% of the company's total sales. It was the first time in any quarter since 2012 that the iPhone didn't represent the majority of Apple's sales.

The fiscal third quarter – which closed June 29 – marked the third-straight decline in iPhone revenue for Apple. In a conference call with analysts following the quarterly report, however, CEO Tim Cook played up the improvement in year-over-year sales as compared to the previous quarter, when iPhone revenue declined by 17% year over year.

The fiscal third quarter has consistently been the slowest for iPhone sales over the past several years. Apple has seen sluggish sales of iPhones in recent quarters and has slipped behind Huawei in the No. 3 position in smartphone sales worldwide.

Meanwhile, sales of smartphones are projected to decline again in 2019 amid a trade war between the U.S. and China and the Trump administration's ban on U.S. companies selling components to Huawei. Last month, market research firm Canalys cut its forecast for smartphone unit shipments worldwide to 1.35 billion units, a decline of 3.1% compared to last year.

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