For the first time in its history, the iPhone is experiencing a drop in sales.
In 2015 at this same time, Apple sold 61 million units of the iPhone. This year, for the period ending March, Apple only sold 51.2 million units, representing a 16 percent YOY drop.
This shouldn’t come as a surprise for most folks who know that we are close to (if not already at) peak iPhone levels. There simply aren’t as many first-time iPhone buyers out there.
This is particularly true in China, the world’s largest smartphone market, which has finally reached saturation and started to see an overall drop in smartphone sales. For Apple in particular, total sales in China are down 26 percent, though it’s unclear how large of a role the iPhone plays in that dip.
Meanwhile, the iPhone 6s and 6s…