iPhone sales continue to decline and, for the first time in years, no longer account for the majority of Apple's overall revenue
Apple said Tuesday that iPhone sales for the quarter fell to about $26 billion in the three months ending in June, a decline of nearly 12% from the same period a year earlier. Even with this decline, Apple managed to grow its overall revenue by a slight 1% from the prior year as the company finds more traction selling wearable devices and digital services, including Apple Pay and Apple Music. The Services segment, as Apple calls it, hit nearly $11.5 billion in sales for the quarter.
The slowing demand for iPhones comes as customers hold onto their smartphones longer and Apple works to reverse a slowdown in China, once its most promising market, amid an ongoing trade war with the United States. On Tuesday, Apple reported sales in the China region fell 4% from the prior year, an improvement from a more than 20% decline in the prior quarter. On a conference call with analysts after the release of the report, CEO Tim Cook said Apple actually grew in"mainland China.
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