Apple's yearly revenue has dropped for the first time in 13 years thanks to a decline in quarterly iPhone sales, Digital Spy reports.
The tech giant officially reported $50.6 billion in revenue to investors on April 26, a 12% decline.
iPhone sales were reported by Apple to be 51.2 million, a 16% drop from the 61.2 million sold during 2015's second fiscal quarter.
10.3 million iPads were sold, also a 19% drop from this time last year. Apple Music, the company's subscription streaming service, has thus far attracted 13 million paying members.
Apple is currently projecting $41 billion and $43 billion in revenues for the current fiscal quarter.
Speaking to investors on April 26, Apple CEO Tim Cook acknowledged that this is both a "busy and challenging" time for the company.
