Existing iPhone users upgraded to the latest iPhone 7 models at about the same rate as the iPhone 6S a year earlier, chief executive officer Tim Cook said in a conference call with analysts. Expectations are mounting for a more significant upgrade to Apple’s flagship product later this year, which is the 10th anniversary of the iPhone’s launch. That may persuade more existing iPhone users to open their wallets for the next model. That puts more pressure on handset makers to find new customers — something Apple pulled off in late 2016. Services revenue grew 18% to $7.2 billion in the most recent period.

Source: Mint February 01, 2017 15:40 UTC