What is eating Apple - and why Steve Jobs would not be doing a lot better

The increasing competition from Chinese manufacturers such as Huawei and Xiaomi - but also from Google, LG and Samsung - has eroded the once dominant position of Apple in the smartphone market

Apple has started the new year by disappointing investors with its first profit warning in 17 years. The company said that poor sales of its latest range of iPhones has helped to weaken its first financial quarter (September to December 2018). Apple now expects revenues of US$84 billion (£66 billion) with a gross profit margin of 38%, having initially expected between US$89 billion and US$93 billion. In the same quarter last year, Apple brought in US$88.3 billion on a gross margin of 42%.

This revision caused the company’s stock