Apple will lean more on subscriptions as iPhone sales drop

TOKYO: After reporting its toughest quarter since 2001 on slowing smartphone sales, Apple Inc. is eyeing services like Apple Pay and music that come on its gadgets to help drive growth: The company aims to increase the number of subscriptions to half a billion by 2020, from 360 million now.

Apple shares rose 5.5 percent in extended trading on Tuesday.

Loup Ventures, Gene Munster

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