Tim Cook's answer to crashing iPhone sales: More iPhones

Apple's plan to tackle the great iPhone sales slump is for it to produce, yes, more iPhones. CEO Tim Cook, in a scripted Q&A with the Washington Post, dismissed the six-month drop-off in sales of iPhones – and slowing smartphone sales in general. Apple is now expected to release the iPhone 7 in September. Cook reckons smartphones are equivalent to TVs, in that people will own more than one, with consumers unable to resist buying them thanks to features such as Siri. In a swipe at Wall Street, which has punished Apple's stock price on the back of falling iPhone sales, Cook reckoned this is a long haul.