Despite seeing a 15 per cent decline in iPhone sales in its second quarter results announced this week, Apple CEO Tim Cook claimed that the company has succeeded in selling its one billionth iPhone, touting it as a milestone during an interaction with the media.
<img title="iPhone" src="http://images.mid-day.com/images/images/2016/mar/apple_b_09032016.jpg" alt="iPhone" width="666" height="338" />
He also added during that sales of the Apple devices in India rose 51 per cent in the last three quarters compared with a year earlier, Cook said on Tuesday. <a href="http://www.mid-day.com/articles/apple-ceo-tim-cook-looking-forward-to-opening-retail-stores-in-india/17471167" target="_blank">(Read more)</a>
With iPhone sales and profits sliding, Apple has sought to highlight its growth in services as it seeks to reduce dependence on its main cash driver.
In its quarterly update, Apple said profits slumped 27 per cent from a year ago to USD 7.8 billion on a sharp drop in iPhone sales.
Apple sold 40.4 million iPhones in the quarter ending June 25, down 15 per cent from a year earlier, highlighting concerns over growth for the company's iconic smartphone.
<img title="Apple CEO Tim Cook" src="http://images.mid-day.com/images/images/2016/jul/Timcook_b_27072016.gif" alt="Apple CEO Tim Cook" width="666" height="338" />
It was the second straight quarter of slumping iPhone sales for the company, which until then had seen uninterrupted growth.
Overall revenue was down 15 per cent from a year ago at USD 42.4 billion for Apple, which is the world's most valuable company.
Additionally, riding on the strong sales of its Galaxy S7 and Galaxy S7 Edge smartphones, Apple rival Samsung Electronics declared 8.14 trillion won ($7billion) year on-year operating profit - 18 per cent - in the second quarter results.
Samsung saw substantial earnings improvement led by sales of its flagship products such as Galaxy S7 and S7 edge.
According to Samsung, it shipped about 90 million handsets in the April-June period with smartphones making up more than 80 per cent of the total, the Korea Herald reported.
Samsung's second-quarter smartphone shipments are estimated at about 72 million units, almost doubling Apple's iPhone shipments of 40.4 million units during the same period. - With inputs from agencies

Despite seeing a 15 per cent decline in iPhone sales in its second quarter results announced this week, Apple CEO Tim Cook claimed that the company has succeeded in selling its one billionth iPhone, touting it as a milestone during an interaction with the media

Technology: Apple claims to have sold its 1 billionth iPhone

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Technology: Apple claims to have sold its 1 billionth iPhone

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