Apple has managed to snap out of its first sales decline in the iPhone’s decades-long history. Unfortunately, the company hasn’t managed to come up with breakthrough products because of the death of its chief visionary, Steve Jobs. As per a report, in the meantime, the company’s competitors rolled out some amazing products in numerous promising fields, including artificial intelligence, virtual reality and augmented reality. However, at the moment, company trails in those areas. According to numerous analysts, the company may catch up with all those products that have trendy technologies. However, Apple boasts a market value of $ 640 billion, which is huge in comparison to any other companies.
Revenue by Apple’s services has touched the $7.2 billion in the past quarter as the service division makes money from selling music streaming subscriptions, fixing devices as well as by acquiring commissions on sales of mobile apps.
Apple has come back with a bang
Previously, selling a wide range of iphones was a tough task as more and more people are not ready to leave their old models and companies like Google and Samsung have managed to attract customers with sleek devices operating on Android software. This trend continued for three consecutive quarters and iPhone sales fell, which led to the decline of the company’s total revenue to a great extent.
However, Apple bounced back with a positive response to the late September release of its iPhone 7 and 7 Plus. These devices are equipped with a much better camera and there is no jack for headphones which attracted a large number of customers. 78.3 million iPhones were shipped in the latest quarter, which showed a 5 percent increase than the previous year.
Currently, 17 percent of all iPhones come under the category of 7 models and rest are older iPhone 5 or 6 models. According to the CEO, Tim Cook, the company could have sold more phones, but failed because Apple didn’t put enough efforts to satisfy customer demands. The sales of this mobile phone could decrease once again. According to Daniel Ives, many mobile phone owners will not buy a new smartphone until they are satisfied with this year’s iPhone look. On the other hand, Tim Cook promises that there are many highly advanced iPhones, which are yet to come which will leave users spellbound.
That wait is not yet over
Apple shipped 13.1 million iPads in the past quarter, which witnessed a 19 percent drop from the previous year. Tim Cook publicized a smartwatch as a huge successful device, but it is seen that many analysts view it as a novelty. In his interviews, Apple is in the search of opportunities in augmented reality. The company is seen hiring excellent engineers who have great expertise in artificial intelligence, which is highly focused on providing training to computer to think and even talk like humans. BGC Financial analyst Colin Gillis thinks that Apple has wasted a lot of money on research and development for figuring out the next move, which is mysterious till now.