We may be finally getting over the iPhone.
Apple on Tuesday said it sold 74.8 million iPhones in the fiscal first quarter, ended December 26, missing Wall Street expectations and posting the slowest growth since the company began selling the smartphones in 2007. Sales were essentially flat compared with the same quarter last year, when it sold 74.5 million units. Analysts had expected the company to sell 76.3 million units this year, according to a poll by Fortune.
What’s worse, Apple predicted total company revenue would slide next quarter and said iPhone sales are in for their first slump ever in the March period.
CEO Tim Cook blamed Apple’s weaker results on the stronger value of the US dollar and global economic softness.
“We are seeing extreme conditions unlike anything we have ever experienced before,” he said during a conference call with analysts.