Apple shrugs off iPhone X fears and enjoys strong quarter

03 May, 2018, 17:31 | Author: Larry Hoffman
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Apple's share in the Indian smartphone market has stagnated to 3 percent over the recent quarters. However, compared to the last quarter, revenue for the category fell more than $1 billion, from $5.5 billion. "And it's how we feel about it", Cook said in response to an analyst question about the X sales.

Apple cheered investors last night as it promised to hand them $100 billion, boosted its quarterly dividend and hailed its controversial iPhone X smartphone as a "Super Bowl winner".

Apple does not offer sales figure from Apple Watch, AirPods and other peripherals but it did confirm revenues from other products were up 38 percent from past year. The company is expanding these offerings with original videos and a news subscription service.

The Cupertino, California-based company reported a 2.9% increase in units sold from 50.1 million iPhones in the quarter a year earlier.

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Apple has about $145bn in the bank, but plans to return the cash to investors. The middle tier for iCloud storage costs $2.99 a month. That's up from $52.9 billion a year ago, though down from $88.3 billion on the last quarter.

The company's Services and Other Products verticals earned it $9.1 billion and $3.9 billion in revenue respectively, marking uniform revenue growth year-on-year across all verticals, barring Macs.

Apple has reported strong iPhone sales that beat analyst forecasts, and promised additional stock buybacks, the media are saying. But these companies don't gain from Apple's expanding services offerings. In Japan, Apple saw a revenue growth of 22 percent while in the rest of Asia Pacific, the revenue was up by around 4 percent.

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The new buyback programme is the latest in a series of steady increases in Apple's dividends and stock buybacks since its stock split in 2014. Apple iPhone revenue rose 14 per cent on an yearly basis, though on a quarter-to-quarter basis the revenue was down 38 per cent for Apple's iPhones.

India is coming up as a potential growth market for Macs as well. "So we look at China holistically, not only as a market".

Cook said in India, Apple set a new first-half record.

"I don't buy the view that market's saturated".

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Apple's second-quarter sales and earnings topped Wall Street's expectations. "And the infrastructure has come quite a way since we began to put a lot of energy in there due to their leadership and so forth". But Apple has not yet given out separate shipment numbers on units of wearables, including Apple Watch which were shipped in the quarter.


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