For the first time in 13 years Apple encountered their first ever decline in revenue. This is as per the quarterly financial results of the 2016 financial year. The revenue attained was $50.6 billion which reflects a 13% decline in revenue from the previous year.
Reasons for the revenue decline
There were several contributing factors to this decline and Apple had seen it coming. The decline was mainly as a result of the low sale in china which was unexpected. However, Apple CEO Tim Cook says that the decline was also a result of the huge revenues attained in the previous year. This was as a result of the production of iPhone 6 and 6 plus. This is the first big screen Smartphone that the company has ever produced.
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