iPhone Sales Double Helping Apple Deliver Strong Profits Growth

Post by Sharat | January 27, 2010 | Apple | Comment

Helped by robust sales of the iPhone, consumer electronics firm Apple posted a 50 per cent rise in quarterly net profit of US$3.38 billion.

Apple, which reported profits on Monday, said that first quarter revenue rose to US$15.68 billion up by US$3.8 billion in the same time period during the previous year.

The company says it sold 3.6 million Macs during the quarter, which represents a 33 per cent jump from the previous year, whilst iPhone sales jumped by 100 per cent compared with a year earlier.

The increase in iPhone sales however did cannibalize iPod sales which were down 8 per cent from the previous year or 21 million units.

Steve Jobs, Apple’s chief executive says that the new products that the company intends to launch later this year were “very strong, starting this week with a major new product that we’re really excited about”.

It is widely expected that Apple will launch its much anticipated tablet device at an event the company is hosting later in the week.

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