iPhone sales are in decline but Apple is making more money than ever

This week, Apple held its quarterly financial report, showing a decline in iPhone sales during Q2. Despite the iPhone not performing quite as well as expected, Apple has still managed to rake in the cash, bringing in more than $11 billion in profit.

Apple was previously expected to sell 51.4 million iPhones this quarter but the company missed the mark by a tiny fraction, selling 50.7 million iPhones instead over the last three months. Despite sales slowing down, Apple managed to increase the average selling price per iPhone, seeing it climb to $655, indicating that ‘Plus' and higher storage models are performing better overall.

In total, Apple brought in more than $11 billion in profit during Q2, with overall revenue climbing to $52.9 billion, a 4.5 percent increase over the same time last year. iPhone sales might have slowed down a tiny bit but that isn't stopping Apple from making more money than ever.

Either way, the reason for lower than expected iPhone 7 sales might simply be due to the fact that people are waiting for this year's iPhone. As has been reported for many months now, Apple is said to be planning an ‘anniversary edition' iPhone with an all glass design with an OLED display with minimal bezels. However, recent design troubles have come to light, indicating that this particular iPhone may not release in September as previously expected.

KitGuru Says: Apple is the richest company in the world at this point, so a tiny in iPhone sales isn't going to have much impact. Still, it is interesting to see that Apple has managed to squeeze more money out of the iPhone while selling less. 

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