Apple's Q2 earnings: iPhone sales continue to drop as services keep growing
Summary
“We delivered our strongest iPad growth in six years, and we are as excited as ever about our pipeline of innovative hardware, software and services,” CEO Tim Cook said in the accompanying press release. Q2 was bound to be an improvement over Apple’s bruising first quarter results when the company tried to get out in front of disappointing iPhone sales by revising its earnings guidance and publishing a letter from CEO Tim Cook that warned of weak upgrade demand over the holidays. Cook also cited Apple’s temporarily discounted battery replacement program and the phasing out of carrier subsidies as reasons why consumers are slower to step up to a new phone nowadays. But the company continues to face significant challenges in China where the iPhone must contend with phones from Huawei and other brands that cost much less money. On the subject of AirPods, Cook said “this is nothing short of a cultural phenomenon.” The company’s Beats brand is now nearing the release of its first true wireless earbuds, the Powerbeats Pro.
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