Apple recently released its first quarter earnings for 2017, reporting $17.8 billion in profit. Amid the strong numbers, however, is a single caveat in the form of the iPad.
The tech giant reported 13.1 million iPads sold in Q1, down 22 percent from last year’s 16.1 million; revenue was down 19 percent, from $7.1 billion last year to $5.5 billion this year. In addition, the item has fallen in popularity relative to other Apple products, now in fourth place after being second only to the iPhone a year ago.
However, not all is doom and gloom. iPad sales have grown double digits in India and China, and the sale figures were still higher than what Apple projected originally. In addition, Tim Cook is still optimistic about the iPad’s future: “We are still currently in this [supply] shortage issue now… If I zoom out of the 90-day clock and look at it [more broadly], we’ve got some exciting things coming.”