Apple Sells Fewer iPhones in Last Quarter, Shares Slide
- CEO blames demand dip on reports about future phone models
- Services sales up 18%; company returns more cash to investors
The Takeaways From Apple's Second-Quarter Earnings Report
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Apple Inc. reported falling iPhone sales, highlighting the need to deliver blockbuster new features in the next edition of the flagship device if the company is to fend off rivals like Samsung Electronics Co.
Investor confidence has been mounting ahead of a major iPhone revamp due later this year. Yet competitors released new high-end smartphones recently, putting pressure on Apple to deliver a device that’s advanced enough to entice existing users to upgrade and lure new customers.