Strong demand for the iPhone 7 may be short-lived as customers wait for 10th anniversary device, Apple warns.
(CCM) — Strong demand for the iPhone 7 this Christmas has halted the slide in Apple's sales, the BBC is reporting. The seasonal sales bonanza led to Apple's net revenue in the final three months of 2016 rising 3% to $78.4 billion. In the previous three quarters of the year the company experienced falls in iPhone sales as competition from Chinese phone makers such as Huawei and OPPO grabbed increasing shares of the smartphone market. Tim Cook, Apple's chief executive, said that Apple had enjoyed record sales of its iPhones, Macs, Apple Watches, and its services (such as iCloud and Apple Music) during the quarter.
But the company warned that some customers were delaying iPhone purchases until Apple's 10th anniversary device is released later in the year, suggesting that the strong sales performance may be short lived, according to the BBC. In total Apple said that it had sold 78.3 million iPhones in the final quarter of the year, up from 74.8 million in the same period in the previous year. The iPhone 7 accounts for about 17% of Apple's total phone sales, according to Localytics, a research firm, with demand for the iPhone 7 Plus model particularly strong. Phone sales now account for two thirds of Apple's total income.
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