Apple Reports First Sales Drop In 13 Years

Tech giant Apple Inc. on Tuesday reported its first ever sales decline in iPhone sales in 13 years. Apple said that they have sold 10 million lesser iPhones in the first quarter of 2016 compared to 2015’s first economic quarter.

The report was released by Apple CEO Tim Cook, who, after declaring the decline in sales, has asserted: “The future of Apple is very bright.” Reports are that the ‘slide is putting more pressure’ on the company to come up with innovative products. Also, as Cook has asserted, the slide might be a result of ‘increasingly saturated market’ of smart phones.

According to reports, Apple’s slowdown in the market was followed by Microsoft Corp., Google owner Alphabet Inc. and Twitter, who posted ‘reports of missed expectations’ in the first quarter of 2016. Apple said its share fell about 8 percent as a result of about 50 million lesser sales of devices. Also Apple has dropped its sales in China to the most, the second largest market of the tech giant after USA being.

Market analysts have earlier reported of Apple’s decline in sales fearing that the company has reached its saturation point; many also termed the growth as ‘exponential’. A way-out from the hitch was also referred by market analyst: “Apple needs to come up with a radical new innovation or product rather than just the current incremental improvements to existing products. This is the only way in which it will reinvigorate sales growth.”

Referring its most recent Smartphone, iPhone 6 as an ‘anomaly’, Apple said that they are now looking forward to promote Apple Music and App Store’s potentials. Also, the leading tech-firm claimed their products to be in high demand by there are supply constraints. However, China being the first to drop iPhone’s sales, Apple is ‘extremely optimistic’ about china and claims to increase their investment there.