|Apple says it sold 45.51 million iPhones in the three months ended Sept. 24, beating the average analysts' estimate of 44.8 million, according to research firm FactSet StreetAccount. (Josh Edelson/AFP/Getty Images)|
Apple executives said demand for the new iPhone 7, the company's best hope to revive flagging sales, was strong, despite fiscal fourth-quarter revenue dips in China and the Americas, its two most important markets.
"We couldn't be more excited about the customer response to the iPhone 7 and the iPhone 7 Plus," Apple CEO Tim Cook said, according to CNBC.
Chief financial officer Luca Maestri said it was "impossible to know" if there was any effect yet from rival Samsung Electronics halting production of its fire-prone Galaxy Note 7 phones earlier this month.
Apple said it sold 45.51 million iPhones in the three months ended Sept. 24, beating the average analysts' estimate of 44.8 million, according to research firm FactSet StreetAccount. Revenue fell nine per cent to $46.85 billion US, a touch behind Wall Street targets, according to Thomson Reuters I/B/E/S.
"Apple didn't have a great (fourth quarter) as iPhones, Macs, China, the U.S. and what appears to be Watch were down," said Patrick Moorhead, an analyst at Moor Insights & Strategy.
Revenue from Greater China, once seen as Apple's next growth engine, fell almost 30 per cent in the quarter, after dropping 33 per cent in the preceding period. Revenue from Greater China doubled in the year-earlier quarter.