Apple announced that its quarterly revenue witnessed a decline for the fourth time in a row, while the profits of the giant technology company rose on the back of “iPhone” devices and services.
The tech giant said that it made a profit of 23 billion dollars, while its revenue reached 89.5 billion dollars, which is a slight decrease from what it achieved in the same period last year.
Apple CEO Tim Cook said that iPhone sales set a new record in the third quarter of the year, while revenue from Apple services reached its highest level ever. “Apple”.
The company achieved 43.8 billion dollars from iPhone sales, while its services unit, which sells products such as “Apple Music” and”iCloud”, achieved 22.3 billion dollars, with an increase of 16 percent over last year’s results.
Cook said in a statement of the results: “we now have the strongest selection of products ever, which will be available in the holiday season, including the iPhone 15 phones,” according to”French”.
The performance of “iPhone” comes as smartphone sales continued to shrink globally in the third quarter of the year, due to consumers monitoring their expenses, according to the website “Counterpoint”, which tracks the market.
Smartphone sales fell by 8 percent in the third quarter of the year for the ninth consecutive time, according to research conducted by Counterpoint’s “market plus” service.
The large sales of”Apple”in the third quarter of the year, along with the hype caused by the new iPhone 15 phones, was an indication that the current quarter (the last of the year) may break the trend of losses in the company, according to “Counterpoint”.
