Apple Inc. announced Tuesday its first year-over-year decline in iPhone sales and its first overall decline in revenue since 2003. According to sales data released Tuesday, the tech giant had $50.6 billion in revenue and $10.5 billion in earnings for its fiscal second quarter, down from $58 billion in revenue and $13.6 billion earnings during the same period of 2015. The decline comes as the company’s signature smartphone, the iPhone, experiences weakened sales worldwide in an increasingly competitive market.
Read it at The Verge
