Apple has seen its iPhone sales fall for the second quarter in a row. The 15% drop follows on from the company's second quarter announcement that sales of its smartphone had slowed for the first time since its launch in 2007. The drop in sales has seen Apple's profits fall by 27% to 7.8 billion US dollars in the second quarter of 2016, whilst its revenue fell by over 14% to 42 billion US dollars over the same period. However, even though sales have fallen by as much as 33% in China, the 15% fall globally is not as bad as was forecasted. Apple CEO, Tim Cook, said that the figures showed “stronger customer demand than [was] anticipated”. Additionally, this surprise caused its shares to rise 7%, after a 20% drop over the last twelve months.