Apple’s fourth quarter earnings report also states that its net income in the quarter totalled $11.12 billion
Apple has released its fiscal fourth quarter earnings reports which state that the company managed to sell 48.04 million iPhone units in the quarter. During the same period last year, Apple had sold 39.27 million iPhones. Apple also said that its net income in the quarter totaled $11.12 billion which is higher that the $8.47 billion that it earned last year.
The Apple iPhone is doing very well in China. During the fourth quarter, sales of the iPhone in China as well as Hong Kong and Taiwan rose by 99% to $12.5 billion. However, sales declined slightly from the third quarter, but that quarter was slow for the Chinese smartphone market in general.
Sales of the Apple iPad continued to drop. Sales of the tablet fell for a seventh straight quarter, down 20% in unit terms. Apple didn’t reveal the sales of the Apple Watch. The sales of the Watch were clubbed together with the iPod, Apple TV and Beats accessories under the ‘other products’ category. Sales of that category rose by 61% to $3.04 billion.
Apple CEO, Tim Cook said that 30% of iPhone buyers in this quarter were switching from an Android powered smartphone. Last month, Apple had launched an app called Move to iOS on the Google Play Store that allows Android users to move to iOS.
This is definitely good news for Apple after the iPhone 6s and 6s Plus recorded lower initial sales this year. The two phones sold lesser number of units as compared to the iPhone 6 and 6 Plus. A report by Business Standard said that the two devices sold about 50,000 units. Last year, the company had sent about 55,000 combined units of the iPhone 6 and the 6 Plus, which went out of stock in 72 hours. The company had anticipated a similar response and sent almost 1,65,000 units, which meant that the two smartphones achieved just 30 per cent of the expected sales.
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Shrey Pacheco
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