The biggest challenge for electronic hardware and software is keeping up with technological advancements.
The latest is the introduction of Apple Pay, the first major payment method for Apple devices, according to a survey conducted by IDC.
Apple has launched a mobile app called Apple Pay for iPhone, iPad and Apple Watch that will enable users to make purchases with a fingerprint scanner and secure it with a code from a customer.
“It has to be something that can make payments as fast as they can be done,” said Richard Gubler, senior research director at IDC’s Device Market Insight.
Gubler noted that the number of devices sold for the first time rose 11 percent in the first quarter of 2019 to about 16.4 million units, a 3 percent jump from the previous quarter.
The number of smartphones sold fell 9 percent to about 9.3 million units during the same period, down slightly from the first half of 2018.
Guba said Apple Pay has helped spur growth for Apple’s mobile and cloud businesses, which are responsible for more than 90 percent of the company’s revenue.
The digital accessories market is a key driver of Apple’s overall revenue, and its sales are set to expand as more consumers are adopting smartphones, Guba said.
In the third quarter, IDC expects Apple to generate more than $4.6 billion in revenue, which would translate into more than 9 million jobs.