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Apple succumbs to the smartphone malaise - Cracks in the glass https://www.economist.com/business/2019/01/12/apple-succumbs-to-the-smartphone-malaise
"The slowdown does not reflect disenchantment; quite the contrary. It is the result of market saturation. After a decade of rapid adoption, there is much less scope to sell handsets to first-time buyers as so few of them are left."
Apple succumbs to the smartphone malaise - Cracks in the glass https://www.economist.com/business/2019/01/12/apple-succumbs-to-the-smartphone-malaise
"The firm is heavily reliant on hardware sales. iPhone sales made up 59% of its $63bn revenue in the third quarter of 2018, but that understates its dependence. Its growing services division accounted for another 16% of revenue, and Mr Cook wants it to double in size by 2020 compared with 2016."