iphone-upgrade-eligibleEarlier this year and for the first time ever since the inception of the iPhone, Apple reported a decline in iPhone sales. The next quarter saw a similar decline, and it looks like the decline does not appear to be slowing down anytime soon because according to Apple’s latest financials, iPhone sales have declined for the third quarter in a row.

According to the report, Apple claims to have sold 45.5 million iPhones in the quarter which represents a 5.2% year-over-year decline for the iPhone and 2.5 million fewer than the previous year. However despite the decline, Apple remains pretty optimistic about its future and fourth quarter which according to the company, is expected to return to growth following the strong sales of the new iPhone 7, a phone which many had pegged as “boring”.

Whether or not that will happen remains to be seen, but so far it seems that the new iPhone 7 has been very well received, especially when you consider some surprising features like its A10 Fusion chipset which has blown the competition away in terms of performance. The decline in iPhone sales shouldn’t be surprising when you consider how saturated the smartphone market has become, and also the fact that Chinese OEMs are starting to offer cheaper and more value for money devices.

Filed in Apple >Cellphones. Read more about iPhone.

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