Is the iPhone really going out of fashion?

Jason Mander assesses iPhone fatigue and slowing growth in the face of stiff competition from Samsung

As Samsung celebrates its first registered profit in years during the third quarter of 2015 and shows off new devices along with LG and others at the Mobile World Congress (MWC), Apple is having a nervous start to the new year. Yes, it posted record quarterly revenues of $75.9bn and record quarterly profits of $18.4bn, but glance behind the titanium curtain at Apple and a core problem is materialising.

That problem is the iPhone, a device that still accounts for around two-thirds of Apple's revenue. With smartphone penetration slowing considerably in western markets and an economic softness in China sparking concern that Apple will no longer see the profits and prospects of old, speculation has been rife that the firm will try and combat global economic pressure by launching a cheap device with a smaller screen before unveiling the iPhone 7.