Apple to slash iPhone prices in some markets to boost sales


Apple CEO Tim Cook has hinted that the company might slash the prices of its iPhones in some markets to boost the sales. The news came just after Apple announced its revenue of 51.9 billion for the holiday quarter, witnessing a 15 percent year-on-year decline.

Apple to slash iPhone prices in some markets to boost sales


The Cupertino-based company is said to lower the price of its iPhones because the strong dollar made the devices heftier when converting to local currencies, Cook told Reuters.

"As we've gotten into January and assessed the macroeconomic condition in some of those markets, we've decided to go back to more commensurate with what our local prices were a year ago in hopes of helping the sales in those areas," said Tim Cook.

Apple announced its total revenue of 84.3 billion for the quarter ending December 29, 2018 - a decline of 5 percent from the same quarter a year earlier. This was also the company's first decline in both revenue and profit in more than a decade.

On the brighter side, Apple's quarterly results showed a 19-percent year-on-year rise for revenue from all products and services excluding the iPhones. Services revenue includes the App Store and Apple Music reached their all-time high of $10.9 billion, surging 19 percent over last year.

Additionally, the Mac PCs and Apple Watch increased by 9 percent, with sales of home devices and accessories rising by 33 percent, Apple said. The new iPad lineup launched in 2018 also helped increase the sales by 17 percent.

Most Read Articles
Best Mobiles in India

Read More About: apple iPhone smartphones news

Stay updated with latest technology news & gadget reviews - Gizbot

Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Yes No
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Gizbot sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Gizbot website. However, you can change your cookie settings at any time. Learn more