Apple: officially not short of a few quid.
The California-based, Chinese manufacturer-preferring computer giant reported first quarter profits of $18 billion – the biggest ever made by a public company. The profits were boosted by record sales of iPhones, with Apple shifting 74.5 million iPhones in the three months to December 27. It seems redundant to qualify this statement by adding that this was well ahead of most analysts’ expectations.
Ironically, it’s the Chinese thinking global, buying local that has powered much of this growth, with sales up over 70 per cent in that territory. Apparently this iPhone boom equates to something ridonkulous like 10 iPhones sold every second. That sort of statistic is hard to get your head around.
E&T news reported the full story of Apple’s bank-busting record profits this morning.
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Engineering & Technology magazine 