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Apple Finds Life After the iPhone While Still Banking on the iPhone

  • Company outlines continued growth of services and wearables
  • Aggressive discounts, trade-ins propped up smartphone sales
Bloomberg business news
Apple Faces Life After iPhone
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Apple Inc. generated less than half of its total quarterly revenue from sales of the iPhone for the first time since 2012 -- a sign the company is entering life beyond its flagship product.

While Apple reported a record $11.5 billion in sales of services in the fiscal third quarter, and demonstrated strong performances from wearables such as the Apple Watch, it can’t cut loose from its iPhone dependence quite yet. While those two product categories are growing, they’re still tied to the smartphone.