Apple published its financial results for the first three months of 2017, which reported that they had sold fewer iPhone units but also has achieved a higher profit. That appears to be because more consumers have opted for more expensive models, i.e. Plus version or one with more internal memory, which means a higher selling price per share.

For the first quarter of the year, Tim Cook and company sold 50.76 million smartphones, which is a decline compared to 51 million for the same period a year earlier.

At the same time, the company reported $52.9 billion in revenue ( 4.5% annual growth ) and $11 billion profit.

So it appears that with fewer units this quarter Apple still managed to achieve better financial results, and this is due to the great interest in the iPhone 7 Plus, whose price is higher.

In conversation with investors, Tim Cook addressed rumours of new iPhone 8, which according to him is the reason for the weaker sales (in number) in recent months.

"We are proud to report a strong March quarter, with revenue growth accelerating from the December quarter and continued robust demand for iPhone 7 Plus," said Tim Cook in a statement. "We've seen great customer response to both models of the new iPhone 7 RED Special Edition, and we're thrilled with the strong momentum of our Services business, with our highest revenue ever for a 13-week quarter. Looking ahead, we are excited to welcome attendees from around the world to our annual Worldwide Developers Conference next month in San Jose."

Now it's interesting to see how will these iPhone 8 rumours can affect smartphone sales over the next few months.