Despite Apple Inc. (NASDAQ:AAPL) being one of the top pioneers in a substantial amount of industries related to either entertainment or technology, the company still occasionally faces let downs, with some of its projects. The latest letdown for the company comes in the form of Apple TV.
In the recent financial summary, for Apple regarding the last fiscal quarter, it was found that in general, the company was exceeding expectations, certainly more so in terms of iPhone sales. However, its catch category, which included Apple TV’s, was another decline in terms of sales.
More details about the fall of the Apple TV
According to the release notes from Apple, the category, which is otherwise known as other, includes various products. The list of products includes the likes of the Apple TV, the Apple Watch and so forth.
However, this category seems to be the weakest link when it comes to sales on behalf of the company. According to the financial summaries, the sales in this category declined by eight percent, which is identical to the fiscal quarter at the same time last year.
The CEO of Apple, Tim Cook did state that the Apple Watch is not the reason behind this, contrary without naming exact figures, he did inform those reporting, that the Apple Watch product had exceeded both in sales, as well as in revenue.
Therefore, leaving but one underperforming product, the Apple TV. However, this is a blow for Apple as this model product, is witnessing a year-over-year, or a decline in sales, since the product’s release.
Will Apple continue to exist in the entertainment niche where TV is concerned
However, despite the growing concern about the sales of the Apple TV, it seems that the company is not yet ready to throw in the towel, at least were television services are involved. The CEO of Apple hinted that the company is already working on its next big televisions project.
Cook stated, “We’ve come a long way in a year and it gives us a platform to build off of. We are learning a lot about the original content business and thinking about ways we could play it.”
Apple stock closed on Wednesday at $121.35, after witnessing a decline by $0.28 or 0.23%
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