With China weakening, Apple turns to India

That’s a small miss on iPhone sales, but a big number that people were watching closely was the company’s forecast for Q2.

Technology experts said the results showed Apple’s “untouchable” brand was not immune to “smartphone fatigue” as the company failed to entice as many new customers with its latest iPhone features.

A refreshed entry-level model would mean buyers being introduced to more up to date iPhone features, as well as possibly providing a boost to iPhone sales amid suggestions that growth is flagging. The iPhone accounts for approximately 68% of the company’s revenues, so the news that it has not grown much this year is worrying some investors as it could have wide-reaching impacts on the American stock market.

“We’re seeing extreme conditions unlike anything we’ve experienced before just about everywhere we look”.

Apple iPhone sales rose by just 300,000 units from Q1 2015 to 74.779 million in the quarter, with revenue rising marginally to $51.635 billion (£36.11 billion).

Sales of iPads saw a 56 percent drop in revenues and 25 percent dip in unit sales as the market for tablet computers cooled.

He also said there are now 3,600 apps available for the TV now.

To illustrate how the iPhones dominates Apple#s sales, the firm reported sales of “other products” – including the smartwatch and Beats music products – were $4.35 billion in the last quarter of 2015, but did not break down those figures. “Nothing that’s happened has changed our fundamental view that China will be Apple’s largest market at some point in the future”.

But Apple, which Tuesday posted record quarterly profit despite the iPhone faltering for the first time since it was launched, remains optimistic about the overall smartphone market. For the quarter, Apple posted revenue of $75.9 billion and net quarterly profit of $18.4 billion, or $3.28 per diluted share, compared to revenue of $74.6 billion and net quarterly profit of $18 billion, or $3.06 per diluted share, in the year-ago quarter.

And that product, which was supposed to be the third leg of the stool for Apple’s long-term growth – alongside the Mac and the iPhone – has been shrinking like insane. During the same quarter in the previous year, the company earned $3.06 earnings per share.

Gross margin for the quarter was 40.1 percent compared to 39.9 percent in the year-ago quarter, with worldwide sales accounting for 66 percent of revenue. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.