IPhone X a profit winner for Apple
APPLE has reported record revenues and profit for the last three months despite a fall in iPhone sales over the Christmas period. In its latest quarterly financial results, the technology giant reported revenue of $US88.3 billion ($109 million), up from $US78.4 billion in the same period last year. The results also revealed a record quarterly profit of $20.1 billion, despite sales figures announced revealing a drop in iPhone sales on the same period last year. According to the report, Apple sold 77.3 million iPhone devices in the final three months of 2017, down on the 78.3 million sold in the same period a year earlier. This is despite the launch of the iPhone X in November, the phone that marked the 10-year anniversary of the iPhone and featured the device’s first allscreen front panel and facial recognition technology. The device is also the most expensive iPhone Apple has made. It is this higher price that has led to increased profits despite the sales dip. Apple chief executive Tim Cook said: “We’re thrilled to report the biggest quarter in Apple’s history, with broad-based growth that included the highest revenue ever from a new iPhone line-up. “iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November. “We’ve also achieved a significant milestone with our active installed base of devices reaching 1.3 billion in January.” Elsewhere in Apple’s results, iPad sales rose by 1 per cent but sales of Mac computers fell by 5 per cent. The company’s next product, the intelligent home music speaker HomePod, which includes the firm’s virtual assistant Siri, goes on sale in Australia on February 9. Meanwhile, Apple has previewed the upcoming release of its new iPhone operating software, rolling out new augmented reality capabilities, new Animoji characters for the iPhone X and a battery update to appease disgruntled consumers. The software update, iOS 11.3, is set to continue the tech giant’s push into augmented reality technology with improvements to the iPhone’s ARKit. In addition to horizontal surfaces like tables and chairs, ARKit can now recognise and place virtual objects on vertical surfaces like walls and doors, Apple said. It can also more accurately map irregular-shaped surfaces. For iPhone X owners, the update will include four new Animoji characters: a lion, bear, dragon and skull. In iOS 11.3 Apple is providing the ability for customers to access their health records and data in the Health app provided their doctor is from a “participating medical institution”. The health records data is encrypted and protected with a passcode. But the most notable change for many consumers is what the tech giant is doing to be more transparent about its role in the battery life of iPhones. The software update will add new features to show battery health and recommend if a battery needs to be serviced. Users will be able to find the feature under Battery in the Settings menu on an iPhone 6 or later.
RESULTS: Apple chief executive Tim Cook says the iPhone has been profit winner for the tech giant.