Home Daily Blitz Apple Posts Historic Drop In iPhone Sales; Forecast Disappoints
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Apple Posts Historic Drop In iPhone Sales; Forecast Disappoints

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Details are pictured on the backside of an Apple Iphone 6 on a table in a restaurant in Hanau, Germany, April 10, 2016.    REUTERS/Kai Pfaffenbach/File Photo
Details are pictured on the backside of an Apple Iphone 6 on a table in a restaurant in Hanau, Germany, April 10, 2016. REUTERS/Kai Pfaffenbach/File Photo

The following is an excerpt from JULIA LOVE AND ANYA GEORGE THARAKAN | April 26, 2016 | reuters.com |
Apple Inc (AAPL.O) on Tuesday posted its first-ever decline in iPhone sales and first revenue drop in more than a decade as the company credited with inventing the smartphone struggles with an increasingly saturated market.

The company's sales dropped by more than a quarter in China, its most important market after the United States, and it also forecast another disappointing quarter for global revenues.

Its shares fell about 8 percent, dropping below $100 for the first time since February. A hike in Apple's share buyback and dividend as well as bumper revenue from services failed to mollify investors.

For more visit: reuters.com

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