Apple’s iconic iPhone has experienced a revenue decline for the third consecutive quarter, but the drop in hardware sales has been balanced out by accelerating growth in the company’s services division.
that Apple’s iPhone revenue fell for the third quarter in a row dropping two percent in the period ending in June. Despite the ongoing slump in hardware sales, Apple’s services business, including subscriptions, warranties, licensing fees, and Apple Pay, has emerged as its most profitable arm, showing over eight percent growth in the June quarter.
The services division’s robust performance is not only compensating for the hardware softness but also setting new records. “We set an all-time revenue record for total services and in a number of categories including video, AppleCare, cloud, and payment services,” Cook said. In addition to the services growth, Apple’s deal with Major League Soccer to broadcast its games on Apple TV has been beating internal expectations for subscribers. Cook attributed part of this success to soccer star Lionel Messi, saying, “The fact that Messi went to Inter Miami helped us out there a bit.”
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