Tech giant Apple has reported the biggest drop in iPhone sales since the early months of the COVID pandemic.
Sales from January to March fell 10% compared to the same period last year – something not seen since the 2020 iPhone model was delayed due to factory closures.
General, Litter it earned $90.8 billion (£72.4 billion) last quarter – a 4% drop on last year. It was the fifth consecutive three-month period in which the company’s revenue fell compared to the previous year.
Apple’s profit last quarter was $23.64 billion (£18.85 billion) – a 2% drop on last year.
However, it was good news for the company’s overall value, as its share price rose almost 7% after investors expected a bigger drop in sales.
Meanwhile, Apple Chief Executive Tim Cook discussed how the company is prepared to use artificial intelligence (AI).
While rival Samsung has introduced phones that can feature AI, including generative AI chatbots, Apple has yet to announce how this will be incorporated into its iPhones.
The next iPhone is expected to feature AI microchips and larger screens.
Litter will unveil the newest software when it holds its annual developer conference in June.
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Generative AI could empower phones to write software code, essays, or create images based on user requests.
Cook said the company feels “very optimistic about our opportunity in generative AI and we are making significant investments,” adding, “We look forward to sharing some very exciting things.”
This story originally appeared on News.sky.com read the full story
