Tech giant Apple has seen its slowest growth ever and far from the double-digit growth investors have come to expect as the new iPhones face tough competition from their earlier versions.
Apple's current iPhone 6s and iPhone 6s Plus smartphones were not able to dominate the comapany's smartphone lineup during the holiday quarter to the extent that the iPhone 6 and 6 Plus did in the year-ago quarter, reports Reuters.
"Apple has become a victim of their own success as the blockbuster iPhone 6 product cycle was hard to replicate as many customers are either buying an older, cheaper iPhone 6 or waiting for the iPhone 7," FBR Capital Markets analyst Daniel Ives said.
The devices are part of the iPhone series and were announced on September 9, 2015, at the Bill Graham Civic Auditorium in San Francisco by Apple Inc. CEO Tim Cook. The iPhone 6S and iPhone 6S Plus jointly serve as successors to the iPhone 6 and iPhone 6 Plus of 2014.