iPhone sales growth brings record profits to Apple

Published on Oct 20, 2009

Apple achieves a record quarterly profit of $1.6 billion despite the global slowdown thanks to strong sales of the iPhone 3GS

Published on Mar 17, 2011

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Strong sales of iPhones and iPods have helped take US technology giant Apple to its most profitable quarter ever - up 47% over last year despite the worldwide recession. Apple sold 7.4 million iPhones in the last quarter - a 7% increase on 2008 - despite reports that it was having problems meeting demand for the iPhone 3GS in some territories. The strong growth in the highly profitable iPhones helped Apple achieve a net profit of $1.6 billion for the quarter and pushed its share price to $207 by the close of the US trading. Apple's success is in marked contrast to rivals such as Nokia, Sony Ericsson and RIM who all posted falling profits or losses recently. And with its long-awaited move into China, expansion of iPhone carriers in the UK and other territories and its traditional strength in Christmas sales the outlook looks good for the next quarter. "We are thrilled to have sold more Macs and iPhones than in any previous quarter," said Apple's chief executive Steve Jobs. "We’ve got a strong line-up for the holiday season and some really great products for 2010." 

 

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