⁍ Customers put off buying new devices in the second half of September.

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⁍ Apple reported its steepest quarterly drop in iPhone sales in at least three years.

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⁍ Macs, iPads and services businesses helped the company beat estimates.

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– Apple shares were tumbling in premarket trading Thursday after the company reported its worst-ever quarter for iPhone sales, Reuters reports. According to the Wall Street Journal, Apple sold 37 million iPhones in the third quarter, down from 4 million in the same quarter a year ago. The company blames the slowdown on the delay of its new iPhone 12 model in China, where people are waiting for 5G service to be rolled out. “We think this was most blatant in China, where 5G service is more accessible, with sales in the region declining 29%—also a bigger decline than we anticipated,” an analyst at CFRA Research says. Apple shares were down nearly 5% in premarket trading.