End of an era: Apple set to announce first profits dip in 10 years

The technology giant is widely forecast to announce a decline in earnings amid reports of a slowdown in sales of its iPhone and suggestions that the company has lost crucial ground to rivals such as Samsung.

Just last week Apple lost its position as the world’s most valuable publicly traded company when its shares hit their lowest levels in a year-and-a-half.

This came after one of the firm’s suppliers – Cirrus Logic which provides sound components for the iPhone and iPad – said sales of a particular chip were slowing down.

Industry observers expect today’s report to show a dip in profits of up to about 20 per cent, compared with the same period last year.

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