Apple's latest financial results have shown iPhone sales slowing down, despite the recent launch of the iPhone SE.
Some 40.4 million iPhones were sold in the third quarter of 2016, a 15 per cent drop from the same period in 2015 when 47.5 million were sold.
However, the drop is not as large as some industry experts had predicted.
“We are pleased to report third quarter results that reflect stronger customer demand and business performance than we anticipated at the start of the quarter,” said Apple CEO Tim Cook.
“We had a very successful launch of iPhone SE and we’re thrilled by customers’ and developers’ response to software and services we previewed at WWDC in June.”
Apple sales in China – which account for almost a quarter of the company’s sales - fell by a massive 33 per cent.
Apple first reported slowing demand for its iPhone in the second quarter of 2016, the first time sales had dropped since the original iPhone launched in 2007.
The reason? According to figures from Consumer Intelligence Research Partners people are waiting longer before upgrading to a new iPhone.
Apple also saw a drop in iPad sales, selling 9,950 in the same period, compared to 10,931 during the same time frame in 2015, representing a smaller drop of 9 per cent.
The company is expected to unveil the iPhone 7 in September, which will run on the upcoming iOS 10. The next-gen iPhone could drop the 3.5mm headphone jack, if rumours are to be believed.
Twitter, as had been expected, posted disappointing results. Visitor numbers on the social network grew by just three million over the last three months.
It also reported revenue of $602 million (£458m) - well below projected figures, though still up 20 per cent on the previous year.
This article was originally published by WIRED UK
