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Tim cook believes the weakening of the ruble is the cause of slow growth record iPhone sales

Apple CEO Tim cook said that the rise of the dollar against national currencies had a negative impact on the financial performance of the company. Among currencies, the weakening of which has impacted the company’s revenue and iPhone sales, the CEO called the ruble, the pound sterling, Euro, canadian and Australian dollars, Mexican peso, Turkish Lira and Brazilian real.

“Our results look even more impressive taking into account the challenges posed by the global macroeconomic environment,” Bloomberg quoted Tim cook. According to his estimates, currency fluctuations lowered the company’s revenue from 15% in March and is projected first in the history of the company the decline in sales of the iPhone.

Giving Apple almost 68% of the revenue the iPhone has ceased to show growth in sales and revenue. At least, compared to the same period of the previous year, the growth in volumes is negligible, as revenues increased by a modest 1%. In successive comparison of the demand for the iPhone increased by 56% in volume and 60% in cash. During the quarter the company sold 74 million 779 thousand iPhone, raising this to $51.6 billion for the First time since 2007, the growth in sales of iPhone is measured such modest values.

Even Tim cook admitted to analysts that Apple expected a decline in iPhone sales for the quarter, but was able to “get to zero”. Cook remains optimistic, according to him, 60% of owners of previous models of the iPhone will upgrade to iPhone 6 or iPhone 6S. Every hour in the last quarter, Apple sold 34 000 iPhones. This is two times more than in the last quarter of 2014, and four times more than five years ago. Average sales price for the iPhone rose to $687 to $691, in spite of unfavorable currency exchange rates.

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MacDigger previously wrote that Apple’s revenue for the first fiscal quarter ended in December, to a record $18.4 billion Total turnover Apple also set a record — $75,9 billion In the application, Apple indicates that the company’s revenues for the first three months of 2016 will be $50-53 billion, below last year’s figures ($58 billion). This is the first since 2003, the decrease associated with the decrease in the level of sales of Apple smartphones.

Recall, Apple has become the most profitable company in the entire history of corporate business, reaching $53.4 billion net profit at the end of the financial year. This contributed to a record fourth quarter of 2015 financial year in which the manufacturer received income of $51.5 billion and increased smartphone sales in China doubled compared with last year.

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