Apple posts incredible results, cementing its stature as a major tech player and confirming the popularity of the iPhone.
Apple continue to dominate the market with huge revenues and profit posted for their fiscal Q2 2014 (Q1), a large bulk of which is down to their ever-popular iPhone product. In this year alone they have amassed profits of $10.2bn and a staggering $45.6bn in revenue.
These figures are in no small part due to the iPhone with over 43.7 million iPhones sold in the quarter just posted. That equates to an incredible 331 iPhones being sold every minute worldwide, or almost 20,000 each hour. In fact the popular mobile device makes up more than half of all Apple’s revenue, beating their other devices, computers and laptop’s by some distance.
Although Apple’s revenue was down by 14% from their Q1 results they are still up by 17% for the same period last year. The hike in the results for the previous quarter was also no doubt a result of the inflated Christmas market. Apple are showing no signs of concern however and have recently bought back $30bn worth of their own stock from shareholders.
Apple are not a company to stand still and so no doubt they have newer and more innovative product ideas waiting to action and launch. I’m excited to see what they have planned next.