Apple has revealed that it could reduce the exorbitant prices of its smartphones in an attempt to boost falling sales.
Apple reported a reduction in both revenue and profits in its recent quarterly financial results on Tuesday night. In three months which ended in December, it reported a 15 percent fall in sales of the iPhone.
This reflected a dive from £46.8 billion in 2017, down to £39.8 billion a year later. Mr. Cook further revealed that iPhone prices would be set at local currency rates in the future meaning we would be able to buy directly from their website in our local currency.
Home and Accessories category, Mac, iPad, and the Wearables all attained an increase in net sales. Apple’s services – including its music streaming platform, the App Store, iCloud storage and Apple Pay were not left out. Profits increased by 19 percent.
Low iPhone sales resulted in a total drop to £64.5 billion, compared to £67.6 billion within 12 months. Profits also fell slightly to £15.3 billion, compared to £15.4 billion previously.