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Apple suffers 1st quarterly sales decline in nearly 4 years

China's clampdown on the spread of COVID was affecting demand for the premium iPhone 14 models. [iStockphoto]

Apple on Thursday posted its first quarterly revenue drop in nearly four years after pandemic-driven restrictions on its China factories curtailed sales of the latest iPhone during the holiday season.

The company's sales of $117 billion for the October-December period represented a 5% decline from the same time in the previous year, a deeper downturn than analysts had projected.

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