Apple signaled to Wall Street that the worst of the iPhone decline is behind it, as it reported another slump in smartphone sales on Tuesday.
The Cupertino-based company has come under pressure to prove that its flagship product can grow again after reporting a 15 per cent drop in iPhones sold in the three months to June. Overall revenues fell 15 per cent to $42.4bn, with net income down 27 per cent to $7.8bn.
Nonetheless, Luca Maestri, Apple’s chief financial officer, said that iPhone sales fell at a slower rate than they had done in March, which he said had “turned out to be the low point for our cycle”. Apple shares rose 5 per cent after-hours on the more positive outlook.
Follow Tim Bradshaw and Richard Waters as they report live reaction to the results and commentary from Tim Cook, Apple chief executive, and Mr Maestri on the conference call with analysts.
We’ve had Facebook’s F8, Microsoft’s Build and Google I/O. The final event in the spring tech-conference calendar is Apple’s Worldwide Developers conference.
Tim Bradshaw and Richard Waters deliver all the news and live reaction from San Francisco’s Bill Graham Civic Auditorium for as Tim Cook and co take to the stage for WWDC 2016.
Apple confirmed investor fears about the first-ever decline in sales of iPhone in the current quarter with the release of its December quarter results. In speaking to investors, chief executive Tim Cook tried to assuage concerns that the slide would be as precipitous as some analysts had suggested,. Tim Bradshaw, US technology correspondent, and Tom Braithwaite, Lex writer in San Francisco, track the reaction to the results, with Emiliya Mychasuk, US Online News Editor, riding along.
Apple is a company that thrives on surprises to promote its products. But it is actually a creature of habit, especially when it comes to launching its flagship device, the iPhone.
So when Apple deviates from the well-established patterns of years gone by, as it did on Monday, it stands out – raising questions from analysts about why. Read more
Apple took over one of the largest venues in San Francisco for the launch of its latest iPhone on Wednesday.
Tim Cook, Apple’s chief executive, climbed on the stage of the Bill Graham Civic Auditorium to unveil an updated iPhone 6S with enhanced touchscreen capabilities, a better camera and a new “rose gold” finish. The new smartphone was upstaged by the long-awaited overhaul of Apple TV, with Siri voice control, a new remote and a full App Store, bringing iOS games to the living room for the first time. New Apple Watch features and a supersized iPad Pro made appearances too. Tim Bradshaw and Richard Waters covered the event.
Apple more than doubled its sales in China to nudge third-quarter revenues and earnings just ahead of market forecasts. But a shortfall in iPhone sales compared with Wall Street’s forecasts caused the stock to tumble by as much as 8 per cent after-hours on Tuesday. Revenues for the three months ending in June were up 33 per cent to $49.6bn with earnings up 45 per cent to $1.85 – the ninth consecutive quarter that Apple has beaten earnings forecasts. Sales of the iPhone rose 35 per cent to 47.5m units, below the 49m Wall Street was looking for, while Chinese revenues jumped 112 per cent to $13.2bn. Tim Bradshaw brings live reaction to Apple’s earnings and updates from its earnings call with chief executive Tim Cook.
It’s Apple turn to court the app makers, after Google and Microsoft held their developer conferences in recent weeks. This year’s Worldwide Developer Conference is expected to see the unveiling of Apple Music, its new subscription streaming service, following last year’s $3bn acquisition of Beats. There will also be changes to Watchkit, to improve apps for the Apple Watch, and potentially updates to Carplay, Homekit and its TV platform, alongside the usual annual refresh of iOS and Mac OSX.
Tim Bradshaw, Richard Waters and Matt Garrahan will provide live updates from the WWDC keynote at San Francisco’s Moscone Center.
Apple sold 270,000 iPhones in just over a day when its breakthrough smartphone made its debut back in 2007. Then in 2010, the original iPad sold and delivered 300,000 tablets in its first 24 hours.
Now there are signs that the Apple Watch, released last weekend, may have topped them both. Read more
Apple’s stock price grazed its all-time high on Monday morning as investors anticipated another record-breaking quarter for the iPhone maker. As well as another big quarter for the iPhone, many analysts expect that Apple Watch has already shipped more than the 300,000 iPads that were sold on its first day back in 2010.
Here are four things to look out for when Apple reports after the markets close on Monday evening: Read more
The first wave of Apple Watch reviews are out and their conclusion is mixed. While there is consensus that Apple has made the best smartwatch out there, many see niggles that make it equally clear this is still very much a “version one” product.
That chimes with my experience trying the device at its two launch events. But after reading all the reviews, two unexpected observations stood out. Read more
After its original unveiling in September, the Apple Watch is nearly out. Tim Cook, Apple’s chief executive, is expected to take to the stage at the Yerba Buena centre in San Francisco to detail new features, apps, pricing and its retail strategy. Tim Bradshaw and Richard Waters bring live updates when the show begins at 10am PST (5pm GMT).
Expectations are high for Apple as it publishes its first-quarter earnings, with analysts forecasting that it sold more than 65m iPhones in the three months to December. With the impact of China looming large but the iPad still looking weak, Tim Bradshaw and Sarah Mishkin bring the news, live updates and analyst reaction from San Francisco.
Barely two months after Apple admitted it was storing users’ data online in mainland China, reports emerged that hackers have tried breaking into its iCloud data.
Apple representatives in China declined to comment on the reports of the hacking attack, which were posted on GreatFire.org, a group that conducts research on Chinese internet censorship.
The revelations, if true, would be little surprise to China observers. But it would be a comeuppance for Apple whose decision to store users’ data in mainland servers underlined the tenuous balance that foreign tech companies must strike between commitment to customer security and the realities of the Chinese market. Read more
Apple just disrupted another industry: the analysts who are tasked with predicting its quarterly numbers.
During Monday’s earnings call, Tim Cook, chief executive, revealed that Apple will not disclose sales figures for its forthcoming Watch when it is released early next year. Read more
Apple has invited reporters to an event on October 16, which is expected to see the debut of new iPads and Mac computers. Read more
Apple is making a big splash in Europe this week. On the same day the European Commission published the initial findings of its investigation into Ireland’s handling of its taxes, Apple popped up at Paris Fashion Week to show off its forthcoming Watch to the general public for the first time.
In a clear break with previous launches, Apple chose a chic fashion boutique, rather than its own retail stores, as the venue, giving a hint of how the smartwatch might be marketed and distributed when it goes on sale next year. Read more
Apple’s latest iPhone has been has been hailed as the thinnest and biggest mobile device it has created yet. But those qualities may have created an unexpected problem: the gadget may have a tendency to “bend”.
Lewis Hilsenteger of product review site Unbox Therapy has published a video that has gone viral (over 3m views and counting), in which he conducted a not-so-scientific “bend test” on the phone. Using his hands to apply pressure on the back of the device while pulling the edges back, he found that the device was warped.
“Will this happen in your front pocket?” asked Mr Hilsenteger. “That probably depends on how tight your pants are.”
After weeks of hype, Apple’s big day is finally here: the iPhone 6 goes on sale in the US, UK, Hong Kong and other key markets (though not China) on Friday.
As ever, the Apple faithful are lining up outside its stores, after supplies of its supersized iPhone 6 Plus were exhausted in online preorders within a matter of hours last week. Most analysts predict pent-up demand for upgrades will push iPhone sales to a new record.
“Big” is the operative word all round. Apple has lent the FT both of the new iPhones and, after an evening playing with both devices, one conclusion feels obvious: the iPhone 6 Plus is just too big. Read more
Don’t let anyone tell you that size doesn’t matter.
The first reviews are in for the latest iPhones and if there is one common obsession, it’s the undeniable fact that these are the largest iPhones Apple has ever made.
Here are a few highlights from reviewers’ first takes of the iPhone 6 and the supersized iPhone 6 Plus. (No sniggering at the back.) Read more