iPhone maker Apple has suffered losses for the first time in 6 years.

Apple 1Q Earnings 2023:

Let us tell you that while in one way iPhone maker Apple is suffering losses, on the other hand, Apple's earnings are increasing in India.

Apple's production has been reduced due to the strict covid restrictions imposed by the Communist Party in China.

Apple CEO Tim Cook said that the company has faced challenges on the business front in the last few years.

Apple has lost 5% in the first quarter of this year. This loss is the highest in the last 6 years.

Apple's total business in the first quarter of FY 2023 is $ 117.2 billion. Apple's revenue has decreased by 5%.

Revenue: $117.15 billion Estimated: $121.10 billion Down 5.49% YoY

Gross margin: 42.96% Estimated: 42.95% Services revenue: $20.77 billion Services revenue up: 6.4% year over year

iPhone revenue: $65.78 billion Estimated: $68.29 billion Down 8.17% YoY

Let us tell you that iPhone maker Apple has decided to shift smartphone manufacturing from China and establish it in India.