Apple sees iPhone sales fall
Sold 51.2 million in latest quarter
Apple just reported its earnings for the first three months of 2016 and in doing so revealed that iPhone sales had fallen for the first time. It shifted 51.2 million iPhones in Q2, down from 61.1 million year-over-year.
It sold 10.3 million iPads, compared to 12.6 million in last year's Q2.
"Our team executed extremely well in the face of strong macroeconomic headwinds," said CEO Tim Cook.
"We are very happy with the continued strong growth in revenue from Services, thanks to the incredible strength of the Apple ecosystem and our growing base of over one billion active devices."
Quarterly revenue was $50.6 billion and quarterly net income was $10.5 billion.
"We generated strong operating cash flow of $11.6 billion and returned $10 billion to shareholders through our capital return program during the March quarter," said added CFO Luca Maestri.
"Thanks to the strength of our business results, we are happy to be announcing today a further increase of the program to $250 billion."
In response, Apple shares fell by 8 per cent in after-hours trading.