Published: Mon, November 05, 2018
Markets | By Jeffery Armstrong

India iPhone sales to fall for first time in four years-researcher

India iPhone sales to fall for first time in four years-researcher

Just last week, Apple began shipping iPhone XR, bringing the latest iPhone breakthroughs to even more users.

Apple's revenue guidance for Q4 2018 fell between $60 billion and $62 billion, with gross margin estimated to be between 38% and 38.5%. Analysts were looking for US$92.7 billion, according to data compiled by Bloomberg.

Starting with the December quarter, we will no longer be providing unit sales data for iPhone, iPad and Mac.

The disappointing forecast by the world's most valuable technology company helped send shares down as much as 7 percent, taking roughly $70 billion off Apple's market value and forcing that value below $1 trillion.

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When asked to clarify the company's decision not to publish unit shipments, Apple CEO Tim Cook said: "This is a little bit like if you go to the market and you push your cart up to the cashier and he or she says, how many units do you have in there?"

Riding on robust growth in Services, App Store purchases and device sales, Apple reported United States dollars 62.9 billion in revenue in its fiscal fourth quarter for 2018, ending with USD 237.1 billion in cash on hand.

'Second, we expect nearly $2 billion of foreign exchange headwinds.

For its full fiscal 2018 ended in September, Apple reported revenue of $265.6 billion and profits of $11.91 per share, beating analyst estimates of $264 billion and $11.79 per share. That said, Apple during the quarter gone by sold 46.9 million iPhones. Analysts, who like to be spoon-fed as much information as possible, interpreted this change to mean Apple foresees declining unit growth of iPhones.

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iPads, meanwhile, hope to get a boost from the newly-launched iPad Pros, which now come with key features from the iPhone X, including Face ID and an edge-to-edge display, plus the new A12X Bionic chip. Apple has also been trying to diversify its revenues away from device sales by offering additional services to its customers.

The ASP (Average Selling Price) of iPhone soared to $793 from $618 a year ago.

These higher average sales numbers were a key contributor to Apple's earnings: The company generated $62.9 billion in revenue during the quarter ending September 30, compared to $52.6 billion during the same quarter past year. Maestri said that the company is on track to double its fiscal 2016 services revenue by 2020.

Apple executives said that from now on, its earnings reports would no longer specify numbers of iPhones or other products sold. As far as its other devices are concerned, which includes AirPods, Apple TV, Apple Watch, HomePod, iPad Touch and Beats products, while the company did not report on the number of units its sold, its revenue grew by 13 per cent from $3,231 million in Q4 of 2017 to $4,234 million in the final quarter of 2018.

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