Apple Inc recorded decline in revenue in the three months that ended in June, the company reported on Tuesday.
Its revenue in the third fiscal quarter reached $42.36 billion, down 15 percent year on year.
It was the second quarter in a row for the technology giant to see falling sales.
Its net income was $7.8 billion, down 27 percent. The revenue of its Greater China region, long a source of growth for the company, was $8.85 billion, down 33 percent year on year.
However, the revenue fall was less steep than Wall Street had expected. The forecast the company gave for fiscal fourth-quarter revenue wasn't as bad as feared either. As a result, shares rose about 7 percent in after-hours trading.
Apple sold 41 million iPhones, a 15 percent drop compared with the same quarter a year ago, and revenue plunged 23 percent. It shipped 4.3 million Macs, down 11 percent and sold 9.9 million iPads, a fall by 9 percent.
According to Counterpoint, China's smartphone maker OPPO beat Apple to take the first spot in June with 22.9 percent of market share.
It's the first time that the domestic phone maker won the race against Apple and Huawei.
Neil Shah with Counterpoint said the fast growth of OPPO contributed to its offline market channels which brought in 70 percent of its sales. Its aggressive sales strategy, the penetration in second- and third-tier cities along with the cutting-edge designs are behind its growth in the past 18 months.
