Apple Device Sales at Target Fall 20% Amid Global Slump
- Declines were ‘across the product suite,’ Target CEO says
- Apple is due to release a next-generation iPhone in September
Target Cuts Forecast After 2Q Sales Miss Their Mark
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Apple Inc.’s sales of iPads, iPhones and other devices fell 20 percent at Target Corp. stores during the second quarter, confirming Apple’s struggles with a global slowdown in smartphone demand and waning interest in its out-of-date gadgets.
Apple has already forecast a third consecutive quarter of revenue declines, led by weaker sales of its top-selling product, the iPhone. Chief Executive Officer Tim Cook is facing growing competition in China from homegrown phonemakers, as well as saturation in developed markets. Some consumers may also be holding off on new electronics purchases, waiting for the seventh-generation iPhone and a revamped MacBook Pro to be released later this year.