Apple is gearing up to unveil its iPhone 16 models in September, with expectations to ship at least 90 million units, a 10% increase from the current generation. The tech giant is placing its bets on Apple Intelligence (AI) to drive sales, following CEO Tim Cook's declaration of generative AI as a new chapter in Apple's innovation history.
Despite the anticipated boost in sales, Apple has been facing a decline in iPhone sales over recent years. In the last financial year, iPhone sales dropped to $200 billion from $205 billion, with a similar trend continuing in the current financial year. Particularly in key markets like China, iPhone sales have seen a significant 19% decline in the first quarter of 2024.
