Apple forecast lower-than-expected revenue for the current quarter and reported iPhone sales from the crucial holiday period that missed analysts’ forecasts, suggesting waning demand for iPhones. The California-based company said revenue in the three months ending in March will be $60 billion (€48 billion) to $62 billion. The average selling price was $796 – ahead of expectations – suggesting its flagship iPhone X handset sold relatively well, while cheaper versions weren’t as popular. HappyApple Chief Financial Officer Luca Maestri said the 2017 holiday period was a week shorter, compared with 2016, limiting iPhone sales. “IPhone X was the most popular phone and since we launched it in early November, for every week it’s been the top selling iPhone,” Apple chief executive Tim Cook said in an interview.

Source: The Irish Times February 01, 2018 21:45 UTC