Apple's annual iPhone shipments will fall for the first time since 2007 this year, due to tepid demand for a new model, Japan's Nikkei Asian Review reported, citing people familiar with the matter.
IPhone shipments will total 210 million to 220 million this year, falling as much as 8.6% from 2015, the newspaper reported, citing an unidentified person at a major supplier.
Terry Gou, chairman of Hon Hai Precision
Hon Hai declined to comment, and Apple didn't immediately return a request from Nikkei seeking comments. Apple has already reported that iPhone sales slowed in the first three months of this year and the company projected that would continue into at least the current quarter. The cooling off of demand for Apple's biggest revenue generator comes as some customers wait longer to upgrade their phones and amid stalled economic growth in China that has pared Apple's sales in that region. Apple introduced the iPhone in 2007 and sales have increased every year since.
-- Bloomberg News