Rise in iPhone sales helps Apple double profits

Apple reported a profit of $23.6 billion (£20.5bn) in its second quarter

A rise in iPhone sales, particularly in China, has led to the doubling of profits at Apple since the start of the pandemic.

The tech giant reported a profit of $23.6 billion (£20.5bn) in its second quarter, up two fold from a year ago.

The figures came after the firm saw a spike in sales for its phones, apps and other devices throughout the pandemic, as consumers spent more time at home seeking online entertainment.

Sales to China nearly doubled, with an overall revenue for the first three months of this year of $89.6bn (£64.2bn), more than 50 per cent up compared to a year earlier.

But the release of four iPhone 12 models last autumn also helped boost profits and iPhone sales rose 66 per cent to $47.9 billion (£34.3bn) on top of a Christmas quarter when sales jumped 17 per cent.

Some analysts believe the demand for the iPhone 12, which is the first model that can connect to 5G wireless networks, could lead to the device’s biggest sales year since 2014, when the iPhone 6 came out.

In a statement, chief executive Tim Cook, said: “This quarter reflects both the enduring ways our products have helped our users meet this moment in their own lives, as well as the optimism consumers seem to feel about better days ahead for all of us.

“Apple is in a period of sweeping innovation across our product lineup, and we’re keeping focus on how we can help our teams and the communities where we work emerge from this pandemic into a better world,” he added.

Apple’s rival, Facebook, also reported bumper revenues and profits with revenues of $26.17bn (£18.7bn), outpacing analysts predictions.

Profit was also higher than expected at $9.5bn (£6.8bn)

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