Stefan Mileschin

Apple has finally admitted that growing sales are a thing of the past and it reported its first annual sales decline since 2001.

Annual sales fell to $216 billion in the 2016 fiscal year ending September 30, from a record $234 billion in 2015.

The sales decline is closely connected to the falling sales for the iPhone, which remains Apple’s largest source of revenue.

Apple sold 45.5 million iPhones in the September quarter, down from 48 million iPhones in the same quarter a year earlier. That marks the third consecutive quarter when iPhone sales and overall revenue have declined from a year prior.

http://www.techeye.net/business/shine-goes-off-apple