2003-2016 - Apple's income has fallen
Apple's revenue's fallen for the first time since 2003 due to the drop of iPhone sales
This is the first time since 2003 that Apple's income has fallen. Although sales of the iPhone have fallen, Apple's sales have still hit £34 billion.
The sales of the iPhone has fallen, as well as the number of iPhones shipped to customers. This is one of the main reasons why Apple's revenue has fallen.
A few weeks ago, Apple launched the iPhone SE, its latest handset. It is cheaper then the iPhone 5 and has more features.
Tim Cook, CEO of Apple, is pleased with how Apple is doing right now.
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