Apple released its financial results for the third quarter of 2024, showing growth amid Wall Street expectations. The company's total revenue increased by 5%, which was pleasant news for investors.
However, not all indicators were so optimistic: sales of iPhone, Apple's key product, fell from $39.7 billion to $39.3 billion compared to the same period last year. The main reason for this decline was a slump in demand in China, where sales fell from $15.8 billion to $14.7 billion.
However, amid the decline in smartphone sales, Apple showed significant growth in other segments. iPad sales rose from $5.8 billion to $7.2 billion, thanks to a device refresh earlier in the year, indicating increased demand for tablets. The company's services, including iCloud, Apple TV+ and Apple Music, also saw strong growth, increasing revenue from $21.2 billion to $24.2 billion, making it the second most profitable segment after iPhone, underscoring the importance of services to Apple's future growth.
Earlier it was reported that the iPhone will get the function of recording phone calls on a voice recorder. And Honor introduced new models 200 and 200 Pro in Russia.