Apple warned about FaceTime bug over a week ago, gets sued

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Last year, however, China experienced its slowest economic growth since 2009 and Apple sales were down 27% in the end-of-year quarter, costing the company around US$5 billion in lost revenue.

For the current quarter, Apple said it expects revenue in the US$55-59 billion range. The iPhone maker has always celebrated and cherished the results of its first fiscal quarter every year - the strongest quarter that generated more revenue, profit and higher sales of iPhone. Cook attributed the downward slide in iPhone sales to customers not upgrading to new devices every year.

Apple might well be coming back now, years later, with a system that can scan the world in a manner similar to that which Google included with the scanners in Tango devices.

"Revenue from iPhone declined 15 percent from the prior year, while total revenue from all other products and services grew 19 percent", Apple said in a press release.

However, the company's chief financial officer Luca Maestri said Apple may not extend the discount to its services like Apple Music and App Store.

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Apple CEO Tim Cook said last night that his firm would tackle declining iPhone sales by doing the unthinkable. The company also posted revenue of $84.3 billion which was higher than the projected revenue of $83.97 billion.

Sony may supply sensors for this new system, note sources, as Apple has been in talks with the Japanese company.

Earnings per share stood at US$4.18 for the quarter, compared with Wall Street's average estimate of US$4.17, according to Refinitiv data. Even as he tries to boost iPhone sales, Cook also must prove that Apple can still thrive even if demand doesn't rebound.

Li said these authorised distributors, including e-commerce provider JD.com and various traditional bricks-and-mortar electronics retailers, started offering in late December cash coupons of up to 20 per cent off the retail price of iPhones sold in the country. A smaller premium over other brands makes the iPhone look more affordable, which could help revive sales, the IDC analyst added.

As for investors and analysts, Apple's new metric of sharing gross margins - and taking special care to call out its extraordinarily high gross margins on services - seems a bit confusing.

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"Apple iPhone has an Asia problem", wrote Strategy Analytics analyst Neil Mawston.

Apple has always been about more than the iPhone, but stepping beyond it is a massive challenge.

Apple told Mashable it was aware of the issue on January 28, and the company disabled group FaceTime later that day. effectively neutralizing the bug.

Apple's shares hit $163 in after-hours.

Apple's Mac and Wearables (meaning Apple Watch and AirPods) businesses are also on the upswing, growing 9% and 33%, respectively.

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