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A Sour Apple? Annual iPhone Sales Said To Fall For The First Time Ever

A Sour Apple? Annual iPhone Sales Said To Fall For The First Time Ever

Apple Inc. (NASDAQ: AAPL) investors haven't had it easy over the past year with shares falling more than 20 percent as bearish sentiment over the company's ability to continue innovating and boost iPhone sales diminish.

According to a new report from Nikkei Asian Review, the worst may not necessarily be over for Apple. The publication, citing "people familiar with the matter," reported that shipments of iPhone devices will see its first ever annual decline.

iPhone shipments are expected to total 210 million to 220 million in 2016, marking a decline as high as 8.6 percent year-over-year.

Related Link: Apple Mania: The Craziest iPhone 7 Rumors

Nikkei noted that Hon Hai Precision Industry, a key member of Apple's supply chain, warned its staff the demand for iPhone devices will "remain feeble until at least early next year."

Hon Hai, also known as Foxconn, manufacturers around 70 percent of all iPhones.

Nikkei added that its sources are attributing the poor iPhone demand to a lack of innovation in the upcoming iPhone 7. The new model is expected to have an upgrade in the lens and zoom.

"Apple's resorting to colors instead of pursuing innovative features to boost sales shows that the company now has no way of breaking out of the current doldrums," the source told Nikkei.

Shares of Apple were trading lower by more than 1 percent at $97.80 early Monday morning.


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