Apple sales fall but iPhone demand persists
Apple sales have continued to fall, as the economy slows and buyers, squeezed by rising prices, put off purchases of computers and iPads. The tech giant said revenue slipped 3% in the first three months of the year compared with the same period in 2022 to $94.8bn.
Demand for iPhones has remained the same over the same period. This could be attributed to strong demand in international markets. One of those key markets is India, as Apple Chief Executive Tim Cook launched the company’s first retail store in the financial capital Mumbai. Until now, Apple products have been available in India either online or through a vast network of resellers. The new stores come at a time when Apple is trying to deepen its retail push in India, the world’s second largest smartphone market.
Overall, the company said it was facing a “challenging macroeconomic environment”, echoing comments by other companies which have warned that customers, hit by the rising cost of living and economic uncertainty, are pulling back. Apple had warned investors that sales in the January-March period could fall by as much as 5% year-on-year.
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Walmart and Cummins partner on CNG powered trucks
Walmart and engine maker Cummins have partnered up to revolutionize the trucking industry. Both hope that natural gas-powered engines can help reduce greenhouse gas emissions. Walmart debuted the first of five new trucks powered by a Cummins-built compressed natural gas (CNG) engine on April 18. A CNG engine is designed to provide similar performance and range to a diesel engine, but run quieter and offer lower maintenance costs, according to the manufacturer.
The introduction of CNG trucks into its fleet is part of a broader effort by Walmart to achieve zero emissions across its global operations by 2040. Renewable natural gas is produced when biomethane from decomposing organic matter or landfill waste is captured and processed into natural gas.
Cummins’ work with Walmart coincides with its Destination Zero strategy, which includes a target to cut emissions from newly sold products by 25% by 2030, with the ultimate goal of achieving zero emissions by 2050. Chris Vanasdalan, a spokesperson for Cummins said, “Our Destination Zero strategy focuses on new powertrains including advanced diesel, natural gas, hydrogen engines, hybrids, battery electric, and fuel cells along with an increased use of low-carbon fuels and renewable electricity and related infrastructure.”
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Boeing sends resources to supplier to aid supply chain issue
In a recent supply chain weekly wrap-up, we commented on the trails and tribulations facing Boeing and its supply chain. With the issue of delivery delays on a significant number of its 737 Max planes over a production issue. Boeing has provided supplier Spirit Aerosystems with manufacturing and engineering resources, as well as a cash advance, throughout the recovery and repair process, with hopes to recover production of its 737 program.
“The issue’s understood,” Boeing President and CEO David Calhoun said. “It’s isolated to two specific fittings, and we know what we have to do.” Calhoun told analysts that Spirit Aerosystems’ quality slip was very difficult to visibly assess, which is why the defect wasn’t identified until the building process was complete.
The additional work will affect Boeing’s 737 aircraft delivery timelines over the next several months, as production is contingent on fuselage availability. The company expects lower production levels in the near-term, before increasing its rate to 38 deliveries per month later this year. Boeing expects to still deliver 450 of the 737 aircraft by the end of the year.
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