Apple's decline continues

Apple experienced a significant decline in its net profit in the third quarter. According to the statement released, the company, which generated $10.7 billion in net profit in the same period last year (Q3 2015), recorded $7.8 billion in net profit during the same period this year.

Based on this report, Apple’s net profit decreased by 27 percent. As a result, the company’s revenues declined for two consecutive quarters.

The primary factor behind Apple’s declining performance is undoubtedly the persistent drop in iPhone sales.

Compared to the same period last year, Apple’s iPhone sales fell by 14.9 percent. During this period, the company sold 40.4 million iPhones, leading to a substantial loss in revenue.

In the same period, iPad sales decreased by 8.7 percent to 9.9 million units, while Mac (laptop and desktop) computer sales declined by 11.4 percent, remaining at 4.2 million units.