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Apple iPhone sales fall and the iPhone 8 could be to blameHandset sales are falling and Apple CEO Tim Cook says it's because people are waiting to upgrade their iPhones amid future phone rumors and speculation.
[SOUND] Apple CEO Tim Cook said people may be delaying an iPhone, possibly because of anticipation building over future phones like the tenth anniversary iPhone expected in the fall. That could explain why the number of iPhones sold in the second fiscal quarter were below last year's sales. Cook made the comments during a call about the company's latest earnings report, which included sales of products like the new 9.7 inch iPad Pro and Product Red iPhone. Even though Apple sold 50.8 million iPhones and reported revenue of $52.9 billion company fell short of analyst estimates, it's also only the fourth time ever that iPhone sales have fallen. But the focus has already shifted from the iPhone 7 and 7 Plus to the iPhone 8, or whatever the new iPhone is going to be called. Apple generates two-thirds of its revenue from from the iPhone, so the pressure is on for it to wow with a possible redesign. The new iPhone could include a brighter OM screen, slimmed down frame around the display and charging. Some features its main competitors already have. Apple didn't break out numbers for other devices like the Apple Watch or the Air Pods, but Cook said if you combine sales of both with the Beats line, revenue in the last four quarters is the size of a Fortune 500 company. And if you wanna know how much cash Apple has in the bank $256.8 Billion now that's gonna buy a lots of iPhones.