'Defining moment for Tim Cook': iPhone sale is Apple CEO's toughest task

Even as he tries to boost iPhone sales, Tim Cook also must prove that Apple can still thrive even if demand doesn't rebound.

Apple hoped to offset slowing demand for iPhones by raising the prices of its most important product, but that strategy seems to have backfired after sales sagged during the holiday shopping season.

Results released Tuesday revealed the magnitude of the iPhone slump--a 15 per cent drop in revenue from the previous year. That decline in Apple's most profitable product caused Apple's total earnings for the October-December quarter to dip slightly to USD 20 billion.

Now, CEO Tim Cook is grappling with his toughest challenge since replacing co-founder Steve Jobs 7 ½ years ago. Even as he tries to boost iPhone