Apple (NASDAQ:AAPL) has posted its first annual revenue decline in 15 years as part of its Q4 FY16 financials for the three months ending September 24th 2016.
It posted net sales of $215.6 billion for the last 12 months, down $18.1 billion from $233.7 billion in FY15. Sales for the quarter were $46.8 billion, down $4.7 billion year-on-year.
Breaking it down to actual units, Apple showed that it had sold 45.5 million iPhones in the quarter, down 5% year-on-year, but up 13% from Q3.
iPad sales also dropped by 6% to 9.3 million units. Its "other products", which bundles Apple TV and Apple Watch with other accessories, generated $2.3 billion in revenue, down 9% year-on-year.
Services pick up the slack
Apple's Services, which includes Apple Pay and its Internet Services, was the only area to see growth. It generated $6.3 billion in revenue, up 24% year-on-year.
"Our strong September quarter results cap a very successful fiscal 2016 for Apple," said Apple CEO Tim Cook.
"We're thrilled with the customer response to iPhone 7, iPhone 7 Plus and Apple Watch Series 2, as well as the incredible momentum of our Services business, where revenue grew 24 percent to set another all-time record."
Looking ahead, Apple is predicting revenues between $76-78 billion in its FY17 Q1, as the new line of iPhone 7s become more widely available.