Wearables Are Moving the Needle for Apple
It's no secret that Apple (NASDAQ: AAPL) has struggled with slowing iPhone growth in recent years, and the company isn't the only one dealing with this issue. Global smartphone shipments are expected to decline by 1.9% year over year in 2019, according to data compiled by market intelligence company IDC. This will mark the third consecutive year of contraction, as developed countries face market saturation, while slower churn in developing economies also places a drag on demand.
As a result of slowing smartphone growth, Apple has turned its focus to other products to help pick up the slack and the company has placed particular emphasis on services and wearables. That strategy is paying off, and while wearables still make up a relatively small segment for the iPhone maker, it's beginning to move the needle.
Image source: Apple.
Source Fool.com
