For the first time in 16 years, Apple earned less than it had calculated. The main culprit? One of the most preferred mobile phones in the world iPhone Not Reaching Expected Salesprobably because of its high price.
The company announced a profit of $ 19,965 million in the first quarter of 2019, down 0.5% on the same period in 2018, according to the company's projected decline in January.
Interview with Reuters Tim Coke explained that its leading product is very expensive in a number of areas, especially those with a high dollar, such as Turkey (we could also add Argentina, even though Apple's CEO did not). This means that in many places, the most expensive iPhone, XS Max, can cost $ 1,500 … or a little more in our country.
Because of this the company wants to change its business model. Before that, they continued to increase the price of their phones to further increase their income. Now the plan would be different: they cost less.
"If we analyze the international currencies, and especially the markets that have weakened last year, these price increases for the iPhone were, of course, more significant. […] We have studied the situation and the macroeconomic situation in some markets and we decided to return to local prices more in comparison with the previous yearhoping to help improve sales in these regions. "
The country that most affected Apple's revenue drop was China. Anyway, Cook did not report where the company could lower the iPhone price.