ActionfigureJoe Posted January 2, 2019 Share Posted January 2, 2019 New York (CNN Business) — The iPhone was once Apple's biggest boon. Now it's becoming the company's biggest headache. Apple (AAPL) warned investors to expect lower sales from the holiday quarter due primarily to "lower than anticipated" iPhone sales in China amid an ongoing trade war with the U.S., as well as other factors like the company offering cheaper iPhone battery replacements, according to a letter from CEO Tim Cook on Tuesday. "While we anticipated some challenges in key emerging markets, we did not foresee the magnitude of the economic deceleration, particularly in Greater China," Cook wrote in the letter. He pointed in part to "rising trade tensions" with the U.S. After decades of expansion, the Chinese economy is slowing down. Growth in 2018 is set to be the weakest since 1990. And 2019 looks even worse. The world's second largest economy, China is feeling the effects of a darkening trade outlook and government attempts to rein in risky lending after a rapid rise in debt levels. Apple now expects revenue for the three months ending in December to be about $84 billion, down from an earlier estimated range of between $89 billion and $93 billion. The iPhone has been Apple's chief moneymaker for years, accounting for nearly 60% of Apple's total sales in the three months ending in September. The company's shares were briefly halted after hours before Cook's letter was made public, and fell as much as 8% when trading resumed. While Cook focused on the impact of China, he did note in the letter that the number of people upgrading to new iPhones was "not as strong" as the company had hoped in other more developed markets. In particular, he pointed to fewer carrier subsidies, a stronger U.S. dollar making devices more expensive abroad, and Apple's decision to offer $29 battery replacements for the iPhone. The latter policy was introduced to ease an outcry after it was discovered that Apple was slowing down older iPhones. But this admission about upgrades could fuel investor concerns about weaker demand for the new lineup of pricier IPhones introduced in the fall. Multiple iPhone parts suppliers cut their sales outlooks in November. With Apple's iPhone unit sales flatlining, Apple has shifted to trying to get consumers to pay more for each device. In October, Apple shocked investors by saying it planned to stop disclosing the number of iPhones sold each quarter. In his letter to investors, Cook touted continued traction in Apple's "non-iPhone businesses," including wearable devices and supplementary services, like iCloud, Apple Pay and the App Store. But he admitted that the downward revision of its sales forecast is "disappointing." Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted January 3, 2019 Share Posted January 3, 2019 they lost there edge long ago . now just me to shit Quote Link to comment Share on other sites More sharing options...
Mainecat Posted January 3, 2019 Share Posted January 3, 2019 Thanks Trump. Another bone headed move. What a fuckin LOOZER. Huge fail at everything Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted January 3, 2019 Share Posted January 3, 2019 Just now, Mainecat said: Thanks Trump. Another bone headed move. What a fuckin LOOZER. Huge fail at everything yeah it is trumps fault Apple is just another phone now . so many better options now days Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted January 3, 2019 Share Posted January 3, 2019 Not good when 60% of your sales is from one product and China is pissed at you. Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted January 3, 2019 Share Posted January 3, 2019 2 minutes ago, ArcticCrusher said: Not good when 60% of your sales is from one product and China is pissed at you. is built there they know what it is Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted January 3, 2019 Author Share Posted January 3, 2019 (edited) 5 minutes ago, ArcticCrusher said: Not good when 60% of your sales is from one product and China is pissed at you. Huawei is killing it right now. They have some incredible hardware. Edited January 3, 2019 by ActionfigureJoe Quote Link to comment Share on other sites More sharing options...
Carlos Danger Posted January 3, 2019 Share Posted January 3, 2019 Apple has done this before. Taken what seems to be an insurmountable lead and squander it through greed an atrophy. The problem this time is they do not have their White Knight waiting in the wings to put them back out front. Apple is already saying they will be late to the 5G party which is a mistake. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted January 3, 2019 Share Posted January 3, 2019 11 minutes ago, ActionfigureJoe said: Huawei is killing it right now. They have some incredible hardware. They have some good stuff. Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted January 3, 2019 Author Share Posted January 3, 2019 5 minutes ago, ArcticCrusher said: They have some good stuff. They’re poised to take the #1 spot away from Samsung in Europe this year. They really are the company to watch for innovation. Quote Link to comment Share on other sites More sharing options...
Anler Posted January 3, 2019 Share Posted January 3, 2019 So chinas economy is shit and ours is great? Bahahahha! Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted January 3, 2019 Share Posted January 3, 2019 4 minutes ago, Anler said: So chinas economy is shit and ours is great? Bahahahha! No but they're linked. Quote Link to comment Share on other sites More sharing options...
Anler Posted January 3, 2019 Share Posted January 3, 2019 2 minutes ago, ArcticCrusher said: No but they're linked. Chinese should just play ball on trade. Problems over. 1 Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted January 3, 2019 Author Share Posted January 3, 2019 12 minutes ago, Anler said: So chinas economy is shit and ours is great? Bahahahha! Apple is just the opening salvo. Wait as other US industrials with presence in China get killed. Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted January 3, 2019 Author Share Posted January 3, 2019 6 minutes ago, Anler said: Chinese should just play ball on trade. Problems over. National pride. Never. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted January 3, 2019 Share Posted January 3, 2019 2 minutes ago, Anler said: Chinese should just play ball on trade. Problems over. Yes, but the Chinese are more patriotic than you yanks. Quote Link to comment Share on other sites More sharing options...
Anler Posted January 3, 2019 Share Posted January 3, 2019 52 minutes ago, ActionfigureJoe said: Apple is just the opening salvo. Wait as other US industrials with presence in China get killed. China should do the right thing pretty quick then. Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted January 3, 2019 Share Posted January 3, 2019 56 minutes ago, ActionfigureJoe said: Apple is just the opening salvo. Wait as other US industrials with presence in China get killed. Brain dead people like Arctibeta Rod and Dave didn’t understand what Trudeau saidnabout China. They listened to right wing pundits and thought he said he admired China. What he said was they could react and not worry about a 4 year election cycle. It shows in instances like this. Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted January 3, 2019 Gold Member Share Posted January 3, 2019 China’s economy is going to shit quickly.... their manufacturing is tanking bigly right now. They are in for a world of shit in Asia. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted January 3, 2019 Share Posted January 3, 2019 13 minutes ago, revkevsdi said: Brain dead people like Arctibeta Rod and Dave didn’t understand what Trudeau saidnabout China. They listened to right wing pundits and thought he said he admired China. What he said was they could react and not worry about a 4 year election cycle. It shows in instances like this. Just like budgets balancing themselves. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted January 3, 2019 Share Posted January 3, 2019 9 minutes ago, BOHICA said: China’s economy is going to shit quickly.... their manufacturing is tanking bigly right now. They are in for a world of shit in Asia. Their shit will be ours too. Quote Link to comment Share on other sites More sharing options...
DriftBusta Posted January 3, 2019 Share Posted January 3, 2019 12 hours ago, Anler said: So chinas economy is shit and ours is great? Bahahahha! China’s gdp growth has slowed dramatically in 2018, which means the trade wars are hurting them a lot more than they’re hurting us. Trump is fully aware of this. 12 hours ago, Anler said: Chinese should just play ball on trade. Problems over. Ding ding ding! 1 Quote Link to comment Share on other sites More sharing options...
USA Contributing Member $poorsledder$ Posted January 3, 2019 USA Contributing Member Share Posted January 3, 2019 Maybe drop the price of these new and not much better phones? Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted January 3, 2019 Share Posted January 3, 2019 (edited) 1 minute ago, $poorsledder$ said: Maybe drop the price of these new and not much better phones? extremely bad habit to get into esp when every gens costing them just a little more to make. Premium products sell for premium prices start playing in the cheap phone sandbox and lose your cachet Edited January 3, 2019 by Angry ginger Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted January 3, 2019 Gold Member Share Posted January 3, 2019 47 minutes ago, $poorsledder$ said: Maybe drop the price of these new and not much better phones? Apple does need to drop the price for sure... they charge made in the USA prices for their Chinese made stuff sold here. Quote Link to comment Share on other sites More sharing options...
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