iPhone Growth Slowest Since 2007, CEO Tim Cook Comments on VR


[UPDATE] During a post-earnings financial call, Apple CEO Tim Cook weighed in on virtual reality, according to Roger Cheng of GameSpot sister site CNET.

Apple CEO Tim Cook: VR is “really cool. It has some interesting applications.” No details, of course. $AAPL

— Roger Cheng (@RogerWCheng) January 26, 2016

Just days ago, Financial Times reported that Apple hired a top VR researcher for reasons unknown.

The original story is below.

Apple on Tuesday announced financial results for the quarter ended December 26. While the money numbers were huge as we’ve come to expect, iPhone sales growth slowed, while other devices dropped year-over-year.

The technology giant generated $75.9 billion in revenue during the three-month period, which was an all-time quarterly record. Profit, meanwhile, was a record $18.4 billion. By comparison, Apple posted revenue of $74.6 billion and net income of $18 billion during the same quarter last year.

iPhone Growth Slowest Since 2007, CEO Tim Cook Comments on VR

“Our team delivered Apple’s biggest quarter ever, thanks to the world’s most innovative products and all-time record sales of iPhone, Apple Watch, and Apple TV,” Apple CEO Tim Cook said in a news release. “The growth of our Services business accelerated during the quarter to produce record results, and our installed base recently crossed a major milestone of one billion active devices.”

Apple sold 74.8 million iPhones during the three-month period, up slightly from the 74.5 million iPhones it sold during the same period last year. GameSpot sister site CNET reports that Apple missed Wall Street iPhone sales expectations and in fact, the year-over-year iPhone sales growth is the slowest this quarter since the company started selling the phones in 2007.

Additionally, iPad and Mac sales fell year-over-year. Apple sold 16.1 million iPads during the quarter, down from 21.4 million in the same period last year. Mac sales, meanwhile, came in at 5.3 million units during the latest quarter, a decline from last year’s 5.5 million.

Looking ahead, Apple said it expects revenue to be between $50 billion-$53 billion for the March quarter, which is down from the $58 billion it made during the period last year. According to CNET, this would be Apple’s first year-over-year quarterly decline in a decade.

Apple also announced today that, in the past 90 days, more than 1 billion of its devices (iPhone, iPad, Mac, iPod Touch, Apple TV, and Apple TV) were “engaged” with the company’s services.