Apple Sales Falling since 2019
The 2020 COVID pandemic has affected many businesses that have seen a sharp decline in their sales since the global epidemic. Not immune to the pandemic’s economic bashing is one of the world’s largest companies in technology, Apple.
Globally, Apple’s sales have been falling gradually but its largest decline came in 2023 when sales of the iPhone had dropped by ‘more than 8% and sales of Mac computers dropped 29%.’ Perhaps one of the main causes for this decline can be partly attributed to the fact that historically, most of Apple’s products have been manufactured in China. With the top of their supply chain having been the onset of the global pandemic, Apple suffered a massive blow to their overseas trading and the number of iPhones they had.
Due to the supply chain not being able to produce as many iPhones as Apple would like, the production of the new iPhone 14 Pro and iPhone Max significantly decreased which meant that they sold fewer smartphones to customers. However, the iPhone is not the only Apple product to have seen a decline in its sales. The Macbook and wearables such as the Apple Watch and Airpods saw a decline of 8% from last year to $65.8 billion. CEO Tim Cook explains that “sales fell because it was difficult to compare the quarter to last year’s period, in which the company released new high-end MacBook Pro laptops.
Apple executives continue to remain vigilant, noting that ‘there are now more than 2 billion active Apple devices around the world’ which they hope will continue to drive growth for them. These will likely help Apple sell more ads and digital subscriptions which will help them to propel their growth in the long-term post-pandemic.
References
https://www.cnbc.com/2023/02/02/apple-aapl-earnings-q1-2023.html