Apple iPhone Sales Flatline With Slowest Ever Growth

Sales of iPhones have stalled for Apple, despite the Cupertino company recording another quarterly revenue record.

The company registered revenue of $75.9bn and record quarterly net income of $18.4bn, which were both up from $74.6bn, and $18bn, compared to the year before.

However despite this, rather than selling the expected 75.5m iPhones, Apple sold 74.8m smartphones, which was only a 0.4% increase from the year before.

This is the slowest pace of growth since the iPhone was introduced back in 2007.

In 2015, sales of the iPhone grew by 46% year-on-year.

Speaking about this downward trajectory, eMarketer analyst Bryan Yeager said: “In 2015, Apple’s share of US smartphone users rose to 43.3% in 2015, up from 42.3% in 2014.

“Android, by comparison, saw its share of US smartphone users rise to 51.7% in 2015, up from 51.3% the previous year.”

However this trend did not harm Apple’s overall financials, with other products bringing in the revenue needed to make it a record-breaking quarter.

Speaking about the results, Apple’s CEO Tim Cook said: “Our team delivered Apple’s biggest quarter ever, thanks to the world’s most innovative products and all-time record sales of iPhone, Apple Watch and Apple TV.

“The growth of our Services business accelerated during the quarter to produce record results, and our installed base recently crossed a major milestone of one billion active devices.”

For the next quarter, Apple is predicting revenue between $50bn – $53bn, which is less than its Q2 2015 performance of $58bn.