Apple iPhone sales flatline as growth falls well short of expectations

Sales of its top-selling device grew by only 0.4% over the holidays, compared with 46% over same period last year, but company posts record revenues

Apple's iPhone sales are flatlining, the tech company said on Tuesday, as it announced a sharp slowdown in sales growth for its top-selling mobile device.

The company sold 74.8m of its flagship devices in the final three months of 2015, below analysts' expectations. In the same period in 2014 the company sold 74.46m iPhones, meaning sales were essentially flat.