As Ukrinform correspondent reports, the BBC is writing about this with reference to Apple’s official quarterly financial report.

The tech giant reported revenue of $94.8 billion in the first three months of the year, down 3% compared to the same period of 2022. “This was the second quarter in a row where the company’s sales fell.”

The publication states that “the decline in demand for the iPhone and helped by the company’s conquest of new overseas markets has not been as sharp as expected.”

“Apple is one of the most expensive companies in the world, so sales figures are given great importance because they testify to the strength of the consumer market,” explains the BBC.

According to Apple president Tim Cook, the company’s key focus is the Indian market, where it has seen double-digit growth.

However, against the background of the general decline in demand for products AppleiPhone sales rose 1.5% to a record $51.3 billion.

“The company said this was due to strong demand in South Asia and Latin America,” the BBC said.

The company’s services also showed growth, particularly Apple Music, Apple News and Apple Pay, which brought in more than $20 billion in revenue, 5% more than last year.