Customers walk past an Apple logo inside of an Apple store at Grand Central Station in New York, U.S., August 1, 2018. REUTERS/Lucas Jackson
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In a world where iPhone demand is on the wane, Apple Inc. has a Plan B. As customers wait longer between upgrades and the smartphone market saturates, Apple can fall back on charging higher prices for each handset and raking in more money from services such as streaming music, digital videos and data storage.The latest evidence that what's bad for Apple can be terrible for suppliers came on two continents within hours of each other.Apple didn't respond to a request for comment.In its most-recent quarter, Apple reported almost no increase in the number of iPhones sold, but revenue from that business jumped 29 percent from a year earlier.If demand for newer, pricier iPhones wanes, Apple can cut component orders, or delay shipments, leaving suppliers with more inventory. With longer-lasting iPhones, users may be more likely to subscribe to new services, making the devices more lucrative to Apple than just the upfront cost.Like most device makers, Apple prefers at least two suppliers for each component.
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