After years of double-digit revenue growth, Kiwi consumers appear to be falling out of love with Apple with the personal electronics giants posting flat revenue growth for its New Zealand subsidiary.
According to accounts filed with the companies office for results for the year to September 24, 2016, Apple recorded local sales of $744 million - just a 1.5 per cent increase on the year prior.
The worlds' largest company, on the back of its premium mobile phones and tablets, had reported average revenue growth in New Zealand over the previous five years of 12.1 per cent.
The largest cost in Apple's local accounts is a cost of sales charge from related parties. In the most recent year this amounted to $729m, largely accounting for its relatively modest profits in New Zealand of $9.6m, down from $26.7m.
Tax, a thorny issue internationally for Apple over the past year after the European Union handed the company a $20b overdue tax bill, amounted to $10m paid locally over the past year to Inland Revenue.
