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Earnings

Apple's services, wearables shore up results as iPhone drops below half of sales

Updated : July 31, 2019 06:29 AM IST

Apple's greater China sales, which had gone into a near free-fall earlier this year, dipped only slightly, assuaging concerns that trade tension were undermining Apple's standing in one of its most important markets. Shares rose 4.25 percent after hours.
Globally, iPhone sales fell 12 percent to $25.99 billion, after dropping 17 percent in the previous quarter, and matched Wall Street targets. Wearables and other accessories revenue rose nearly 50 percent, topping expectations.
Apple's market share in China declined to 5.8 percent from 6.4 percent, according to market research firm Canalys, in part because smartphone rival Huawei Technologies Co Ltd gained market share to become the top handset seller in the country.
Apple's services, wearables shore up results as iPhone drops below half of sales
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