Apple had an incredible start and growth in its iPhone business but in recent years the iPhone business is slowing down. The technology giant announced it sold 74.8 million iPhones during the first quarter of last year which is a solid achievement by its standards. Though it had a good opening to the year with record sales, the numbers reduced drastically for the remaining three quarters of the year. It is the same expected this year as well with good opening to the first quarter of the year, the company is expecting a downfall of $50 billion to $53 billion in the coming year from the $58 billion fall in the last year. This will be the first time Apple will be facing two straight years with successive falls. It’s the first time in 13 years the company is seeing such a down fall in with its mainstream iPhone product line which has been its money making machine.
Apple CEO Tim Cook said China will be the next main market the company will be focusing and remains optimistic about it too. He said about the economic softness in Greater China earlier this month. Here is a list of countries where company has invested and having slow economic growth are Brazil, Japan, Russia, Canada, etc. Apart from China, Apple also plans to double its investments in India where it is experiencing high sales and growth. The company is planning to launch retail stores across the country too.
Apple has a list of new products that are being worked on and will hit market one after the other such as the second generation Apple Watch, the larger iPad and its much rumored electric cars. These will be the next set of products the company will be planning to generate revenue apart from its mainstream revenue source, the iPhone.