Apple posts 1st annual sales decline in 15 years
Apple on Tuesday posted its first annual sales decline since 2001, with the net sales falling by 7.7% from $233.7 billion in 2015 to $215.6 billion in the 2016 fiscal year. The fall in the net sales is largely attributed to the decline in iPhone sales, down 5% year-on-year, reports said. Apple's net income also declined by 14.4% year-on-year.