Apple iPhone sales drop at record pace

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Sales of Apple’s iPhones fell at their steepest-ever rate during the three months to the end of March but are showing signs of stabilising.

The technology giant said revenue from the iPhone dropped by 17% to $31bn.

However, Apple chief executive Tim Cook said sales were stronger towards the end of March, including in China where it cut iPhone prices to boost demand.

Apple lifted its outlook for the three months to June, sending its shares over 5% higher in after-hours trading.

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