California-based Apple reported a 16% drop in profits in the just-ended quarter to $11.6 billion, as overall revenues dipped 5% to $58 billion.
Apple has been scrambling to develop new revenue streams amid stagnant growth and increased competition in the smartphone market, which has been the company’s main profit driver. A total of 310.8 million smartphones were shipped globally during the first three months of this year in a 6.6% decline from the same period in 2018, preliminary IDC data showed. It was the sixth consecutive quarter of decline for global smartphone shipments.
South Korean consumer electronics behemoth Samsung saw smartphone shipments drop 8.1 percent to 71.9 million in the first quarter.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China's vast investment in Africa hits a snag in Congo - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.China's investment strategy of throwing money at developing countries appears to have hit a snag in the Republic of Congo as the central African nation is seeking an IMF bailout. Hopefully it's not cancer causing factories they're investigating
Source: SABC News Online - 🏆 32. / 51 Read more »
91% of Malaria cases globally occur in Africa: WHO - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.91% of Malaria cases globally occur in Africa and beating the disease is a massive challenge. On Thursday countries across the globe mark World Malaria Day under the theme 'Zero Malaria Death starts with me.'
Source: SABC News Online - 🏆 32. / 51 Read more »
Huawei jumps ahead of Apple in tough smartphone marketIt was the sixth consecutive quarter of decline for global smartphone shipments, the market tracker added. Wait till Mobicell rises I love Huawei it have that thing🔥🔥🔥🔥 That's why the west doing everything in their power to end Huawei
Source: eNCA - 🏆 49. / 51 Read more »
Huawei jumps ahead of Apple in tough smartphone marketIt was the sixth consecutive quarter of decline for global smartphone shipments, the market tracker added. iPhone wil always b on top n Samsung behind lastly huwaii/Huawei wher it belongs... Yet Apple market cap keeps increasing. I wonder why 🤔🤔 We did it for them.
Source: eNCA - 🏆 49. / 51 Read more »