New York (CNN Business)The iPhone was once Apple’s biggest boon. Now it’s becoming the company’s biggest headache.
Apple warned investors to expect lower sales from the holiday quarter due primarily to “lower than anticipated” iPhone sales in China, according to a letter from CEO Tim Cook on Tuesday.
“While we anticipated some challenges in key emerging markets, we did not foresee the magnitude of the economic deceleration, particularly in Greater China,” Cook wrote in the letter. He pointed in part to “rising trade tensions” with the U.S.