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Apple’s annual profits fall for first time in 15 years

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Apple Computer have posted a decline in annual profit and sales for the first time in 15 years.

Apple Computer have posted a decline in annual profit and sales for the first time in 15 years.

SAN FRANCISCO (Diya TV) — Apple has reported its first decline in annual sales and profit in 15 years. The Silicon Valley company, which had bounced back from near bankruptcy in 1997 to become the world’s most valuable company today, told investors on Tuesday night that it had sold $215.6bn worth of iPhones, watches, Mac computers and other products in the year to 24 September.

That figure represents an eight percent decline in Apple’s record $233.7bn of sales it collected in the previous year. The decline in sales hit the company’s profits, which fell 14 percent to $45.7bn.

Additionally, it’s the first time Apple’s annual sales or profits have declined since the year 2001, leading some analysts and pundits to wonder if the world’s consumers have reached “peak Apple.” That meaning everyone who wants (and can afford) an iPhone or other Apple products already have them.

Sales declined by 9% to $46.85bn in the three months to 24 September – the third consecutive quarterly fall. The sales fall hit the company’s quarterly profits which came in at $9bn — a 19 percent decline on the same period a year earlier. The fall in sales was mostly down to declining sales of the iPhone, which is by far Apple’s most important product and accounts for two-thirds of all sales. Apple sold 45.5m iPhones in the quarter, a 5 percent drop on last year.

Despite the decline in sales and profits, Tim Cook, Apple’s chief executive, said: “Our strong September quarter results cap a very successful fiscal 2016 for Apple. We’re thrilled with the customer response to iPhone 7, iPhone 7 Plus and Apple Watch Series 2.”

First launched in 2007, the iPhone has completely transformed the telecom game, but Apple is now facing more intense competition from the likes of Google, which last week released its first branded smartphone, the Pixel, and upstart rivals offering much cheaper smartphone devices in key markets such as China.

The company’s share of U.S. smartphone users remains static at 43.5 percent, according to research firm eMarketer. In the UK, 31.8 percent of smartphones are iPhones, a slight increase on last year. The great hope for Apple was emerging markets such as China and India, but after generating huge year-on-year growth, demand has decreased. Apple’s share of the Chinese market has fallen from 9.2 to 6.7 percent as local competitors up their game and offer decent rivals at much cheaper prices.

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Harvard to host 17th annual India Conference this February

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CAMBRIDGE, Mass. (Diya TV) — For the 17th year in a row, the graduate students at Harvard University will host an India Conference. It will take place during the weekend of February 15-16, 2020. Two days of exciting discussions through panels, mixers and networking will fill the halls of the Harvard Business School and Kennedy School of Government.

The theme for this year’s conference is Foresight 20/20 – a look at what to expect from India in 2020 and beyond. As one of the largest student led conferences in the USA, the Harvard India conference attracts the biggest headliners from every field – from politics, business, entertainment & the arts. And this year is no different.

India Conference
India Conference at Harvard

With more than 100 speakers and 1000 attendees, the conference promises to have something for everyone. This year’s biggest draw from the entertainment genre is veteran Bollywood actor and self proclaimed ambassador to India, Anupam Kher. Kher has a long standing list of accolades within the film industry. In addition to his acting roles, he has been a producer, director and teacher at his own acting school. Most recently he played the role of Dr. Vijay Kapur on NBC’s primetime drama ‘New Amsterdam‘.

Some other notable speakers this year include founder of the India Today Group, Aroon Purie, Indian Olympic athelete Dutee Chand, comedian and actor, Vir Das, partner at Softbanks’ Vision Fund Lydia Jett & politician and India’s ruling party (BJP)’s sherpa to the G20, Suresh Prabhu.

The harsh winter in Harvard doesn’t seem slow down or dull these brilliant minds in any way. The India Conference at Harvard continues to retain its standing as the conference of choice for deliberating issues ranging from technology, media, politics and eduction to creating solutions for India’s path towards global leadership. The event features brainstorming sessions and sincere discussions on the very real and large scale problems that are uniquely Indian.

Diya TV is a media sponsor to the event and will be on-site covering conference. To receive a 20% discount use code RDAY20 here and to know more about the conference or speakers, head to the IndiaConference.com

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Indian Ambassador, Shringla speaks to U.S. Congress about Kashmir

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AMB. Shringla speaks to congress about Kashmir | Diya TV News

WASHINGTON (Diya TV)  — Indian Ambassador to the U.S. Harsh Shringla met with members of Congress at a private roundtable briefing, hosted by Southern California Congressman Brad Sherman. Sherman, who has been a supporter of India, took to Twitter recently to share his concerns about Kashmir and said serious questions about Kashmir were asked at the briefing.

President Trump is being urged to fix the H1-B visa process and do away with country-specific limits, with the latest effort for reform being spearheaded by 60 U.S. business school deans and CEO’s.

In an earthquake, seconds matter. So on the anniversary of the deadly 1989 Loma Prieta earthquake that rocked Northern California, state officials announced the launch of America’s first statewide earthquake early warning system.

Tabla Maestro Zakir Hussain will be coming to Boston next month to perform at the Berklee India Exchange, where he will also be conferred with an honorary doctorate by the esteemed music school. A Zakir Hussain Scholarship at Berklee is also being established.

And we have incredible video of three kids from India rescuing their dog from a snake that’s equal parts courageous and nuts.

Ravi Kapur contributed to this report.

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Federal Court rules Trump must turn over tax returns | Diya TV News

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Trump Tax Returns

NEW YORK (Diya TV) — A federal judge ruled President Trump must turn over eight years of his personal and corporate tax returns to Manhattan prosecutors, striking down the President’s argument that a sitting president cannot be criminally investigated. The ruling was quickly appealed and this case could end up in the Supreme Court to answer the constitutional question of whether presidents can be charged with a crime.

Meanwhile, the President celebrated a victory by FCC Chairman Ajit Pai, as a federal appellate court upheld most of the FCC’s repeal of net neutrality. It also ruled the FCC cannot preempt state net neutrality laws, meaning the rules of the road in states like California remain in place.

The U.S. House Foreign Affairs Committee announced their Asia-Pacific and Non-Proliferation Subcommittee will be holding a hearing asking State Department officials and human rights activists to chime in on Human Rights in Kashmir, the Tamils of Sri Lanka, Muslims in Assam and the human rights situation in Pakistan, which includes the Sindh Province.

Lockheed Martin announced they will build F-16 wings exclusively in India, helping in integrating Indian industry into the $165 billion fighter aircraft market.

Ravi Kapur contributed to this report.

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