Apple's Tim Cook explains suffering iPhone sales

Apple really isn't selling as many iPhones.

The company reported earnings for its December quarter Tuesday, revealing that iPhone revenue fell 15 percent, compared with the same time last year. That would be a steep decline for any quarter, but is particularly significant for a holiday period, when sales are typically strong. 

We don't know exactly how much iPhone sales are suffering, as Apple conveniently announced last quarter that it would stop breaking out individual unit sales for the iPhone and other products. But sales are down enough to hurt Apple's bottom line. Revenue was down 5 percent overall this quarter, largely due to weaker demand for iPhones.  Read more...