Home Business Boom in sales of iPhone 7 help Apple to record quarterly revenue

Boom in sales of iPhone 7 help Apple to record quarterly revenue

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Los Angeles – Strong sales of Apple’s iPhone 7 have helped the California-based company post record quarterly revenue in the fiscal first quarter ending in December, the company said Tuesday.

The company reached a record 78.4 billion dollars in revenue for the Christmas quarter, a 3.3 per cent increase year-on-year, following the sale of 78.3 million smartphones worldwide.

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FILE PHOTO – Customer checks his new iPhone during the Singtel Apple iPhone 7 launch event held in Singapore’s Marina Bay Sands Expo on September 16, 2016. (Credit Image: © Then Chih Wey/Xinhua via ZUMA Wire)

“We sold more iPhones than ever before and set all-time revenue records for iPhone, Services, Mac and Apple Watch,” the company said in a statement.

The iPhone is Apple’s most important product, making up some 70 per cent of the company’s business. According to market research company Canalys, Apple is now selling more smartphones that main rival Samsung.

In the previous fiscal year, sales for the iPhone had decreased, especially in China, the world’s biggest smartphone market.

-dpa