Apple reported a 13% drop in its second quarter revenue on Tuesday as sales of iPhones slipped.
The technology giant reported quarterly sales of $50.56bn (£34.39bn) down from $58bn last year – the first fall in sales for the company since 2003.
Apple sold 51.2 million iPhones during the quarter, down from 61.2 million in the same quarter of 2015.
China was a particular weak spot – sales there fell 26%.
If it’s that bad for Apple how bad is it for the companies that don’t make a profit?