Hot on the heels of Apple cutting its Q1 forecast due to weaker-than-expected iPhone sales, Apple CEO Tim Cook has released a memo to employees, obtained by Bloomberg, that tries to soften that blow. In it, he notes that, despite the lower numbers, “iPhone activations in the US and Canada set new Christmas Day records” for the company.
The internal memo further reinforces Cook’s original statement that the $9 billion shortfall in revenue was due to the iPhone underperforming in China. Cook elaborated that “we expect to set all-time revenue records in key markets including the US, Canada and Mexico, Western European countries including Germany and Italy, and countries across the Asia-Pacific region like Korea and Vietnam.”
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Author: Chaim Gartenberg