California: Ruling Company of digital world, apple’s chief Tim Cook talking about the most famous product of the giant i-phones, has said that i-phone prices could be slashed in some countries keeping in view its declining sales.
A decrease of 15 percent in income is likely the main reason behind reducing i-phone prices. According to the latest review the income generation from i-phone decline 15 percent as compared to last year financial quarter while i-phone is the most profitable product of the company.
A s a whole company’s income reduced five percent as compared to last year and the company’s existing earning lie at 84.30 billion dollar.
The situation was expected because the company in the start of current month informed investors that income will be less than expectation and will be of around 85 billion dollars.
The company has partly declared slow down in China’s economy responsible for the situation. However, the Chief Tim Cook said that customers are also facing difficulties due to exorbitant prices of i-phones.
The chief said that the company products are expensive in rising economic countries due to strong position of dollar as compare to other currencies and it is affecting markets in its products sales.
Tim Cook said that the company is reviewing its mobile phone prices from the current month so that customers could be saved from high and lows of currencies.
He said that they had taken such measures for some products and for some areas so that they will absorb effects of high and lows of currencies.