Apple is focusing on its ad sales business because smartphone sales won’t cut it

Apple is looking to expand its ad sales business, The Wall Street Journal reports today, which would represent a significant change in the company's business strategy. Until now, Apple has prioritized hardware sales as its main profit driver, but global smartphone sales are waning as people hold on to their expensive devices for longer periods of time. This means there's less money in phones and more of a need for Apple to expand its business beyond hardware.

In turn, Apple has reportedly met with Snap, Pinterest, and other companies to gauge interest in an Apple ad network that would distribute ads across all their collective apps on iOS. Apple would share revenue with the apps displaying ads; the amount of that share would vary, the...

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