Apple posted the worst quarterly results since 2003, owing dominantly to a huge plunge in China sales.
The tech giant reported a revenue drop of 13 percent, compared to the second quarter of 2015, down from over $58 billion to about $50.5 billion.
While sales dropped around the world, except Japan, the biggest dip was in China and Hong Kong, where sales plummeted 26 percent ($16.8 billion to $12.5 billion).
The sales drop in China was larger (in dollar value) than all sales losses in the rest of the world combined. The losses were more prominent in Hong Kong that in mainland China, Apple’s chief financial officer Luca Maestri told The New York Times.
In the Americas, the slump was 10 percent and in Europe 5 percent.
You will find more statistics at Statista
“Our team executed extremely well in the face of strong macroeconomic headwinds,” said Tim Cook, Apple’s CEO, in an April 26 press release.
