Apple Sales Decline as Smartphone Market Remains Challenged

The iPhone maker faces broad drops in demand for smartphones amid competition from China

Apple said quarterly sales fell slightly as the iPhone maker faces declining smartphone demand and new competition in China.

Apple sales were $89.5 billion, down less than 1% from the year-ago period and slightly beating analyst estimates of $89.3 billion, according to FactSet. The company’s net income increased 10.8% to $22.95 billion, compared with the $21.8 billion analysts projected.This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law.

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