Behind Apple’s disconcerting news of weak iPhone sales lies a more sobering truth: The tech industry has hit Peak Smartphone, a tipping point when everyone who can afford one already owns one and no breakthroughs are compelling them to upgrade as frequently as they once did.
Some manufacturers have boosted prices to keep up profit. But Apple’s shortfall highlights the limits of that strategy. (Source: Black America Web, Mae Anderson) The company said demand for iPhones is waning and revenue for the last quarter of 2018 will fall well below projections, a decrease traced mainly to China.
Apple’s shares dropped 10 percent Thursday on the news — its worst loss since 2013. The company shed $74.6 billion in market value, amid a broader sell-off among technology companies , which suffered their worst loss in seven years. Apple’s news is a “wakeup call for the industry,” said analyst Dan Ives of research firm Wedbush Securities. Click the link below to read more and to learn what these things need for the cell phone industry! Is time really up for smartphones?