Apple CEO Tim Cook has said the company may lower the prices for iPhones in some areas in order to boost falling sales figures, the BBC reports.
iPhone revenues were down 15 percent in the last quarter, while the company’s overall revenue dropped by 5 percent compared to the previous year, to USD 84.3 billion.
Apple cited the economic slowdown in China as the main reason for the fall in revenues, but Cook also said that customers were struggling with the high prices of Apple devices, which were partly determined by a strong dollar making products comparatively more expensive in other markets.
The company’s share price has dropped by about a third since October as investors have been concerned that customers had a weaker appetite for buying iPhones.
Cook said he remained confident in the business, pointing to strong sales of iPad and Macs, as well as growth in its services division, which includes Apple Pay.