New York (CNN Business) At one time, the staggering success of the iPhone helped catapult Apple to become the world's most valuable company. Now, its lackluster smartphone sales are dragging down Apple's business. iPhone sales for the period fell 17% from the year prior. For years, Apple's iPhone business appeared to defy gravity as the company managed to sell more devices and gradually charge more for them. Apple recently reduced the price of some of its products, including the iPhone XS and XR, by nearly 6% in some instances.

Source: CNN April 30, 2019 20:45 UTC