iPhone sales surging according to Apple financial reports

_68737666_chinaApple said it sold 31.2 million iPhones, a record for the June quarter, compared to 26 million last year.

But profit was down 22% from the same period a year earlier as its profit margins shrank to 36.98% from 42.8%.

However, average sale prices were lower at $581, compared with $608 a year ago.

Its revenue was also better than expected, with the company earning $35.3bn, although that was barely above the $35bn of a year ago.

Analysts said the data, especially on iPhone sales, may help allay some fears of a slowdown in Apple’s growth rate.

“The iPhone number should provide some comfort to investors who were worried about smartphone demand,” said Shannon Cross of Cross Research.

“That’s one of the reasons the stock is up. Expectations were not strong for this quarter.”

According to its latest numbers, Apple’s sales in China were also down by 4% in the April to June period.

Research firm IDC has estimated that 66% of the 385 million smartphones sold in China next year will cost less than $200 – significantly less than the cost of Apple’s iPhone.

That has led some investors to fear that Apple may have to cut the price of its products in an attempt to attract customers.

At the same time, sales of its the iPad tablet computer, fell by 14% to 14.6 million units, compared with 17 million a year ago.

For his part, Apple’s boss. Tim Cook, said that the company was going to introduce new products soon.

“We are laser-focused and working hard on some amazing new products that we will introduce in the fall [autumn] and across 2014,” he said.

What do you guys think on this? Will it be another great financial year for Apple? What new devices might they come out with this year? Let us know in the comments below.

– Mark


source – bbc news


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