Apple is forecasting a return to revenue growth in the run-up to Christmas, after reporting a 9 per cent decline in sales during its fiscal fourth quarter.
As expected, Apple posted its first decline in annual revenues for more than a decade as demand for the iPhone 6S failed to match its blockbuster predecessor. Sales for fiscal 2016 were down 8 per cent to $215.6bn.
The world’s most valuable company sold 45.5m iPhones in the three months to September 24, down 5 per cent on a year ago but broadly meeting analysts’ predictions. Profits fell 19 per cent in the fourth quarter to $9bn.
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