IPhone sales are in a major slump. AirPods and iPad are helping Apple grow
New York( CNN Business) Apple’s iPhone sales slump isn’t going away. But the company has invented brand-new revenue streams — and it’s relying on an aged one — to keep growing.
For years, Apple ( AAPL)
reviewers have chastened the company for relying on a single produce, the iPhone, for the bulk of the company’s revenue. That hasn’t varied — the iPhone still accounts for more than half of Apple’s overall sales.
But Apple has diversified. Apple’s AirPods are pervasive. Apple Pay is a hit. So is the Apple Watch. Even the iPad is unexpectedly making a comeback after years of dormancy.