For the first time since 2019, Apple have seen its biggest fall in sales
At the end of 2022, sales in one of the world's largest technology firms, Apple, fall and it is the biggest drop in Apple's sales since 2019. Apple's sales fell 5% in the three months to December 2022. This is compared to the same period in 2021.
Sales of Apple's Mac laptops and PCs dropped 29% whereas iPhone sales were down to more than 8%.
Apple's profits were hit because of the slowdown in sales, too. They fell 13% to £24 billion ($30 billion).
Apple CEO Tim Cook has blamed the drop in sales on the COVID-19 pandemic lockdowns in China, where factories had to cease production of products and close. Apple's iPhones are manufactured in China. Apple's iPhone factory in China is run by Foxconn, who are one of Apple's largest markers of the iPhone product line. Prices of goods have increased too, given the current economic climate.
Tom Cook was recently on a conference call with investors and said he knows 'Apple is not immune to' the circumstances the world is facing.
Apple's drop in sales haven't stopped them from releasing new products, though. Apple's latest lineup of iPhones, the iPhone 14, iPhone 14 Plus, iPhone 14 Pro and iPhone 14 Pro Max were revealed in September last year.
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