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iPhone Sales Double As Apple's Earnings Soar

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Apple has announced a record financial quarter with earnings soaring by 95 percent and revenue up 83 percent year-on-year.

The Cupertino-based company announced last night that the huge rise in profits was driven by iPhone sales, with the handset selling 18.65 million units in the three months to March 31 – representing a staggering 113 percent rise in sales over the same period last year. With Reuters reporting once again yesterday that the new iPhone 5 would not be shipping until September, Apple will be happy to see demand for the iPhone 4 remain so strong. However the numbers surrounding the iPad are not as healthy with 'only' 4.7 million units sold compared to 7.33 million in the previous quarter. This will be down to a number of factors including the previous figures including the Christmas rush and a lot of people would have been waiting for the launch of iPad 2 in March.

 

Speaking at the conference call, Tim Cook, chief operating officer, addressed the iPad issue saying current demand for the iPad was “staggering,” adding "we sold every one that we could make." When asked about the rumour that products may be delayed due to the tsunami that hit Japan last month, Cook said there would be no delays as Apple had moved quickly to secure its supply chain. "We don't expect any effects, but the situation remains unpredictable." Looking at the other areas of Apple’s business, sales of Macs remained high with 3.26 million units sold, a 27 percent increase year-on-year. However where the company did see a fall – yet again – was in sales of its iPods, down 17 percent compared to this time last year, with 9.02 million units sold.

Cook also spoke about Steve Jobs, who is currently on a medical leave of absence, saying he is regularly seen in the office. "We see him on a regular basis and he continues to be involved in major strategic decisions, and I know he wants to be back full time as soon as he can." Speaking about the current quarter, Cook and Peter Oppenheimer, the chief financial officer, both believed sales of the iPad 2 would rocket and they were even unsure whether or not production would be able to meet the demand for the tablet. Cook also said Apple was in a strong position regarding its future products compared to its closest rivals running the Android operating system.

It seems as if Apple is set to dominate the mobile market for some time to come, if these figures are anything to go on. Of course there are some flies in the ointment, such as the revelation yesterday of an iOS file secretly tracking your movements, but it appears as if the Cupertino express will continue to roll on despite these hiccups.

Source: Apple

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