Apple announces credit card service to be rolled out in August

31st July 2019

Apple is seeking to diversify its product lines as iPhone sales continue to fall.

Apple has announced plans to launch its very own credit card in August throughout US markets. It is not known how soon after the service will be made available to European markets.

 The company made the announcement off the back of an earnings call which showed Apple beat predictions and reported quarterly earnings of $53.8 billion (€48.3 billion), sending shares up 3%.

 Despite this, Apple is seeking to diversify its product lines as iPhone sales continue to fall. The big-tech company saw overall revenues dip in the previous two quarters as a result of lost earnings through iPhone sales.

 In the last quarter, iPhone sales reportedly made up less than half of overall Apple revenue, a first since 2012.

 Onto the newly announced Apple Card, this will include a user interface showing customers how they have spent their money, further dividing up transactions into categories such as entertainment, food and shopping.

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