The profit of the company has also decreased during October-December. Apple’s profit was about $30 billion. The company’s weak results have also affected its shares. Its share price fell about 5 percent on Thursday. However, Apple shares rallied and cut losses to less than 1 percent after Apple management expressed hope for improved performance. Apple’s results raised fears of a slowdown due to higher interest rates and other factors.
The last reduction in iPhone sales for Apple, the world’s most valued listed company, was during Corona. UBS analysts estimate that iPhone sales could be higher in the US than in China and Europe. China and Europe have been affected by Corona and the war between Russia and Ukraine. Advisory firm Cowen says supply chain challenges have lessened. However, demand for the company has declined due to other reasons. This year, there may be a decline of about two percent in iPhone sales.
Apple has increased iPhone manufacturing in India as well as exports. The company has exported $1 billion worth of phones from the country in December. In India, the iPhone is assembled in the factories of Apple’s contract manufacturers Foxconn and Wistron. Apple has set itself a goal of increasing India’s share of total iPhone production to 25 percent. For the company, this figure is currently around seven percent. Apple began assembling the iPhone in the country a few years ago through its contract manufacturer Wistron. China is Apple’s manufacturing center. However, Apple manufacturing in China took a huge hit last year due to restrictions and other difficulties due to Corona.
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