Apple attributed its surge in demand for the iPhone 11 to record sales and profits over the Christmas period. Tim Cook, Apple’s CEO, also said he was “closely monitoring” the outbreak of the coronavirus, making it difficult to predict the next quarter. The company’s limited travel in China has reduced store opening hours, while its suppliers’ factories have been closed longer than expected. ” Cook said. “Apple said sales in the final quarter of 2019 rose 8 per cent, while net profit rose 11 per cent to $22.2 billion. The growth was driven by demand for accessories such as iPhones and watches and AirPods, which marked a change from recent performance, which was disappointed by weak iPhone sales. Apple says losing Lightning port would be a waste Trump launches new attack on Apple over privacy concern the most recent quarter, iPhone sales grew nearly 8 percent, while sales of wearable devices such as watches and AirPods rose 44 percent, leading to shortages due to such strong demand. Overall, Apple said it had about $79 billion in revenue and about $12.7 billion in service revenue, including Apple Pay, the new streaming service Apple TV Plus, gaming services Apple Arcade and App Store. The nearly 17 percent increase in service has disappointed some analysts, who also point out that the company’s response to The Apple TV Plus has little insight. Still, overall results beat Wall Street expectations, with the stock up nearly 3 percent in after-hours trading. Sophie Lund-Yates, equity analyst at Hargreaves Lansdown, said: “While streaming is an interesting area to watch, losing focus on the main business is a mistake, and Apple is still very much a hardware business. ” Europe with sales 15 per cent more. They grew 11 per cent in the Americas and Japan, and 3 per cent in the company’s Greater China region, including Taiwan and Hong Kong. Apple’s iPhone entered the Chinese market by the end of 2019, according to research firm Canalys, as the number of smartphones sold fell 7 percent last year. “Given the strength of the hardware and service ecosystem, Apple products remain attractive at the right price,” said Peng Nicole, vice president of mobile business at Canalys. “Apple expected sales of $63 billion in the first three months of 2020. The range is larger than usual due to an outbreak of the coronavirus, Tim Cook said. Although Apple has “some” suppliers in Wuhan, Tim Cook says apples have other sources in these cases. He said the impact on suppliers outside Wuhan was “not clear” and that the reopening of the Chinese New Year had been postponed until February 10.
Apple credits iPhone 11 demand for record sales
