Despite strong demand for its iPhones and services such as the streaming platform Apple TV+, Apple’s sales have continued to decrease.
Revenues fell 1% to $89.5 billion (£73.3 billion) in the three months to September 30, according to the internet behemoth.
After a post-lockdown surge in curiosity, sales of its Mac computers and iPads languished.
It is the fourth quarter in a row that sales have decreased year on year.
In an update to investors, the company stated that profits had surpassed $23 billion, aided by a new three-month record for iPhone sales.
It also pulled in a record amount from services like iCloud and Apple Music, raking in $22.3 billion for the California-based company, up 16% from the previous year.
However, it expressed concern about potential supply chain challenges impeding delivery of its new iPhone 15 Pro and Pro Max devices.
Apple CEO Tim Cook stated that the company is “working hard to manufacture more”.
“We do believe that later this quarter, we’ll reach a supply-demand balance,” he went on to say.
Apple CEO pays an unexpected visit to China.
Apple was compelled to abandon lightning in the upcoming iPhone 15.
Mr Cook stated that the company had its “strongest line-up of products ever” as it enters the critical Christmas selling period.
However, the most recent update revealed that other Apple products had recently failed to catch the attention of customers.
Sales of Mac computers, for example, fell to $7.6 billion in the third quarter, down from $11.6 billion the previous year.
At a highly anticipated conference in September, the firm unveiled its current iPhone lineup.
After the European Union mandated the modification, Apple stated that the iPhone 15 would not include its proprietary lightning charging connection. Instead, it employs the “universally-accepted standard” of a USB-C cord.
It has also had difficulties elsewhere, with economic uncertainty weighing on Chinese consumers.
On Thursday, the company reported a 2.5% drop in revenue in China, while Mr Cook stated that after accounting for foreign exchange rates, the company’s business in China had grown year on year.
Last month, the executive paid a surprise visit to China, when he met with gamers in Chengdu.
It was his second trip to China this year, a vital market for Apple, as the company’s activities in the country have been hindered by Covid restrictions and US-China tensions.
Mr Cook stated in March that Apple has a “symbiotic” relationship with China, a vital manufacturing base.