Apple CEO hints at lowering iPhone prices
Tashkent, Uzbekistan (UzDaily.com) -- Apple CEO Tim Cook has hinted the company could lower iPhone prices in some markets in an attempt to recover its falling phone sales.
Apple announced its iPhone revenue from its most recent holiday quarter fell 15% from the same period a year ago.
The company said it iPhone revenue made up US$51.9 billion in its Q1. In the same period a year earlier, it made US$61.1 billion from its iPhones.
Apple blamed the issues partly on the ongoing U.S. trade war with China, which may have hurt phone sales.
But Cook also said that customers in certain markets were also struggling with Apple’s high prices, according to Reuters.
He said that Apple is rethinking how it prices the iPhone outside the United States after largely setting the price in U.S. dollars, which made the phones more expensive in local currencies as the dollar strengthened.
He added that in January, Apple started to re-price its phones in order to protect customers from the impact of currency fluctuations.