April 23, 2013 13:55

Apple expected to reveal first profit losses since iTunes was launched

Result would mark the technology giant's only fall in earnings since 2003

Apple expected to reveal first profit losses since iTunes was launched

Photo: PA

Apple is expected to reveal its first profit loss in a decade when it publishes its latest figures today (April 23).

The result would mark the first time the technology giant has suffered a fall in earnings since it launched the iTunes store in 2003. As ITV reports, last week Apple's shares hit their lowest levels since December 2011, making it lose its position as the world's most valuable publicly traded company. Some experts are predicting that today's announcement could reveal a profit slide of as much as 20 per cent.

The company has enjoyed rocket-like growth in the last decade but suffered a bad winter, with pressure on chief executive Tim Cook to unveil revolutionary new products – in the vein of iTunes and the iPod – as they face increasing competition from other companies such as Samsung, which launched its galaxy S4 handset last month.

Apple are reportedly planning a move into digital music streaming by developing a service that will rival Spotify and Pandora. According to reports last week, the company are close to signing a deal with major record labels Universal and Warner over the planned new service, although these have yet to be confirmed by either side.

Read More On This Artist

More News
Damon Albarn: 'New Blur album may just be one of those records that never comes out'
BBC Radio 1 deny claims that La Roux was excluded from playlist for being 'too old'
Confusion surrounds Lil Wayne's involvement with Real Madrid footballer Cristiano Ronaldo
One Direction's Zayn Malik gets death threats after #FreePalestine tweet
Michelle Shocked releases silent album with tracks named after digital music executives
Further Ted Nugent casino performances cancelled over 'racist' comments
The Co-op staff complain as supermarket switches to only playing music by unsigned artists
Muse say 'heavy' new album will be released next summer
Lady Gaga appears as waitress in new 'Sin City' trailer – watch
Foo Fighters announce September live date at London's Olympic Park
Former Lostprophets member on Ian Watkins abuse: 'How could you know? How would you know?'
Pussy Riot to sue Russian government over imprisonment
Billy Bragg campaign successfully sees prisoners allowed steel-string guitars
Elbow frontman Guy Garvey discusses solo project
Paul McCartney to re-release Wings albums 'Venus and Mars' and 'At The Speed of...
Damon Albarn performs for robots in Japan
Finnish dog breeders name kennel after Oasis album
The Courteeners' Liam Fray: 'Brandon Flowers is the second best-looking man in rock...
DIIV's Zachary Cole Smith: 'I fucked up Sky Ferreira's life'
Pulled Apart By Horses reveal Italian arthouse-inspired 'Lizard Baby' video – watch
Perfume Genius to play one-off London gig next week
The Gaslight Anthem stream new song 'Stay Vicious' – listen

More News


Please login to add your comment.

Featured Videos
Latest Tickets - Booking Now
Know Your NME

NME Store & Framed Prints
Most Read News
Popular This Week
Inside NME.COM
On NME.COM Today