Apple Experienced Its First Annual Revenue Decline In 15 Years

By Mara Anton

Posted on October 26, 2016

Since 2001, Apple’s revenue grew steadily; then, 2016 came along. This is the first year when Apple has to confront a real revenue decline #todaymagic

The US company’s annual revenue fell from $233.7 billion in 2015 to $217 billion in the 2016 fiscal year. That’s a 9% decline in 15 years – an impressive record we knew they couldn’t sustain for too long. The reason is the one behind the decline, as well: iPhone sales aren’t what they used to be. Apple smartphones aren’t as groundbreaking as they used to be.

With serious competition at the door (such as Oppo and Xiaomi) it’s no wonder the iPhone hasn’t been received with the same enthusiasm as in the old days. That said, iPad sales have also declined with 6% and Mac revenues with 14%. The light at the end of the tunnel is now their Services (iCloud, iTunes, Apple Music) that have grown with 24% year after year.

We’ll see if the iPhone 7 and 7 Plus can help their cause until next fall, when things have to take a positive turn. 2017 marks Apple’s 10 years anniversary and with it, the debut of a completely revamped iPhone 8.

Apple Experienced Its First Annual Revenue Decline In 15 Years