(Telecompaper) Apple reported lower sales on an annual basis for the third consecutive quarter in Q3, but the 9 percent drop to USD 46.85 billion was in line with the company's outlook. Net profit dropped to USD 9.01 billion or USD 1.67 per share from USD 11.12 billion or USD 1.96 per share a year ago. With the iPhone 7 only launching in late September, revenues from the company's flagship product fell 13 percent year-on-year but were up 17 percent from the previous quarter to USD 28.16 billion. Unit sales reached 45.51 million, down 5 percent on an annual basis and 13 percent higher compared to the previous quarter.