iPhone sales slow down: Apple to see sharpest fall in revenue since 2016 as analysts stress on AI to boost growth
macroeconomic trends and will continue to set the pace (for the smartphone industry) for quite some time," Reuters quoted Bob O'Donnell, founder of TECHnalysis Research, as saying. In September, analysts anticipate the unveiling of the much-anticipated iPhone 15, which could feature the widely accepted USB-C port on certain models. This development may provide a slight boost to iPhone sales during the July-September quarter, according to market experts, who have differing opinions on the overall performance during this period.
Notably, Apple has a tradition of not providing quarterly outlooks. However, industry analysts speculate that the tech giant might shed light on its utilisation of AI to enhance the upcoming product lineup, offering insights into the company's innovative approach. The company has so far avoided buzzwords like AI at its events, in a contrast with tech giants including Alphabet and Microsoft.
Last month, Bloomberg News reported Apple has quietly built its own framework to create large language models known as "Ajax". Analysts predict that iPhone sales weakness will mainly come from the Americas, with revenue expected to decline by 6%. Sales in China, Apple's third-largest market, are predicted to remain flat due to an uneven economic recovery., Reuters added.
However, Apple's position in China is solid, and the company is likely to see only a small decline in iPhone sales. Any sales weakness in China could be offset by strong sales momentum in India. (With Reuters inputs)
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