Apple Could Lower The Price Of Its iPhones To Sell More

30th January 2019

CEO Tim Cook said that the strength of the US dollar had hurt its sales in emerging markets.

Apple CEO Tim Cook has hinted that the company could lower iPhone prices in some places in an attempt to boost falling sales.

Suggesting that customers were also struggling with the firm's expensive products, he said that the strength of the US dollar had hurt its sales in emerging markets.

Mr Cook said that Apple had started re-pricing its phones to protect customers from the effect of currency fluctuations. "What we have done in January in some locations and [for] some products is essentially absorb part or all of the foreign currency move as compared to last year," he said.

Revenue from the iPhone, which produces most of the firm's profits, fell 15 per cent in its latest financial quarter.

Overall the firm's revenue was down 5 per cent from a year ago to about $84.3bn (€73.7bn).

The slowdown had been expected after the tech giant warned investors earlier this month that revenue would be about $84bn, lower than expected.

The firm had blamed the issues partly on an economic slowdown in China.

While high-end Apple might feel the brunt of the slowdown, it’s a worldwide problem. Global smart phone shipments contracted 5 per cent in 2018, according to market analysis firm Canalys.


31st January 2019

Italian Prime Minister Giuseppe Conte said the contraction was likely to continue into 2019.

29th January 2019

Other EU institutions have backed a move to relaxed visa requirements for Britain after Brexit – as long as London reciprocates.

28th January 2019

Bulgaria, which joined the European Union in 2007, was expected to have to wait at least until mid-2022 to join the euro.

23rd January 2019

Founder Sir James Dyson has been in favour of Brexit, but chief executive Jim Rowan denied that the move had anything to do with Brexit or tax.