Why you should think twice about buying a new iPhone 7: An update
Posted July 13, 2018 06:07:37Apple has said it plans to sell more than 3.5 million iPhones worldwide by the end of 2018, but its share of the smartphone market has been falling for years.
Apple has sold just over 100 million iPhones since the iPhone 7 was launched in June 2018.
Apple shares were down by around 12% on Monday as investors continued to question the company’s future and its ability to grow the iPhone business.
Apple is the biggest smartphone maker in the world, with about $200 billion in revenue in 2017.
Its market share is slipping.
Apple said in October that it would sell its iconic iPhone to Chinese firm Huawei for $13.2 billion.
The deal will bring more than 1 billion iPhones to China.
In September, Apple said it was considering selling off a stake in its chipmaker, Broadcom.
That would put a $5 billion stake in the chipmaker into Apple’s hands.
Apple CEO Tim Cook said in November that he was leaving the company to take up a job at Google.
In 2018, Apple reported a $22 billion loss for the year.