In what has been seen as a major setback for the technology giant Apple, the company recently reported a 5.5% drop in sales amidst the worst performance in four years.
Apple, who had already failed to meet expected growth projections in the holiday quarter, saw sales plunge by 5.5% in the three months that ended December 29th, 2018. This is the biggest decline the company has seen in over four years, with a slowdown attributed primarily to weak sales of their iPhone XS, XS Max and XR.
This news comes as a major disappointment for Apple, who had been expecting a rosy holiday season. The company had spent a significant amount of resources preparing for the holiday quarter by adding new features, extending discounts and trying to improve customer satisfaction. But despite these efforts, the company’s sales yet again failed to meet its projections.
The news will also have a significant impact on the stock price of Apple, which has already seen a fall of up to 5% in the past few days. This is expected to put even more pressure on the stock prices, as investors re-examine their confidence in the company.
It remains clear that Apple is not the same giant it used to be. In the recent past, the company has been struggling to keep up with competitors like Samsung, Huawei and Xiaomi, all of whom have been doing much better in terms of sales. In addition, the increasing presence of Chinese rivals such as Oppo, Vivo and OnePlus is posing an even greater threat to Apple’s market dominance.
It is now for Apple to show that it is still capable of meeting the demands of the consumers, if it is to stay competitive in the market. As such, the company must now work to address the issues that have led to this dismal performance, or face further erosion of its market share.
Apple profits drop 5.5%, stories worst holiday getaway effectiveness in 4 a long time The Indian Convey