Struggling Apple looks for ways to stay afloat in China

Apple Inc's fiscal first-quarter earnings reveal that the company's struggles in China and in its critical iPhone business will continue, while analysts say the tech bellwether could reduce prices to remedy the situation.

On Jan 29, Apple said revenue for the three months ended Dec 29 was $84.3 billion, off 5 percent from a year earlier. Profit was $19.9 billion or $4.18 a share.

The US tech giant said revenue from iPhones declined 15 percent from the year-earlier period. In China, Apple reported revenue of $13.1 billion, down sharply from $17.9 billion the earlier year.