Apple reports record increase in profit for first three month of this year, demand in China on the rise (Photo : REUTERS/Christian Hartmann)
Apple, as its CEO Tim Cook has stated, is "bucking the trend" with obvious reference to the record $13.6 billion profit that the company generated in the first three months of the year. This marks a healthy 33 percent increase in profit from the $10.2 billion it generated during the same period a year ago.
Driving the growth is the 61.2 million iPhones, 12.6 million iPads and the 4.6 million Macs it sold globally during the said quarter. Cook has special praise for the Chinese market where demand for Apple products has been exceptionally good.
"Really and truly, everything you look at in China was extremely good," Cook said.
The Chinese seem to have developed a special liking for the iPhone 6 that comes with a display larger than any of its predecessors. Sales jumped 70 percent year-over-year, with the device turning out to be the top gift item during Lunar New Year celebrations, reported Latimes.
The world's most valuable public company reported sales worth $16.8 billion in China which marks a steep 71 percent increase over the same period a year ago and a 4.2 percent jump from the $16.1 billion in sales the company generated in the first quarter.
All of this has left Apple with a cash reserve of a whooping $194 billion, stated eweek.
Also, if the above facts and figures aren't enough, Apple's youngest member, the iWatch too is generating its fair share of attention. Analysts are already predicting even more inflated sales figures for the July quarter which will carry the iWatch numbers.
Meanwhile, the company has stated they are satisfied with the response the iWatch has generated.
"Reaction has been overwhelmingly positive. We can't wait to see more of the inspiring apps that developers dream up for the Apple Watch as we head toward the Worldwide Developers Conference 6 weeks from now," Cook said.
Also, notwithstanding the exceptional demand that the Apple products continues to enjoy, rumours pertaining to the next generation iPad and iPhones are coming in thick and fast. Apple is not expected to announce the new iPad Mini 4 and iPad Air 3 before October.
