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Apple Credits iPhone 11’s Performance For Record Sales In 2019

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Apple has credited iPhone 11 for record sales and profits over the Christmas period as the BBC reports. An increase in demand for the device boosted Apple’s revenue.

 

Apple said it witnessed an 8% rise in sales in the last three months of 2019. Its net profits also increased by 11% to reach $22.2bn.

 

The increments were driven by demand for iPhones and accessories such as watches and AirPods. Thus, marking a change in performance as previous years saw disappointing iPhone sales.

 

In the fourth quarter of 2019, iPhone sales climbed almost 8%. Sales of wearable tech such as watches and AirPods increased by 44%, with strong demand so much that there were shortages.

 

Overall, Apple said it made about $79bn from sales of its products and $12.7bn from services. The services include Apple Pay, Apple TV+, Apple Arcade, and the App Store.

 

The demand for the iPhone 11 Improve Apple’s overall sales

 

“While [streaming] is an intriguing area to keep an eye on, it would be a mistake to lose focus on the main business, and Apple is still very much a hardware business,” said Sophie Lund-Yates, an equity analyst at Hargreaves Lansdown.

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The growth was strongest in Europe, with an increase in sales by 14%.  In the Americas and Japan, the numbers went up by 11%. The growth also increased by 3% in China, Taiwan, and Hong Kong.

 

Apple’s iPhones improved in the Chinese market at the end of 2019, despite a 7% decline in the number of smartphones sold in 2019, according to research firm Canalys.

 

“There is still a strong pull factor for Apple’s products, at the right price, given the hardware and service ecosystem strength,” said Nicole Peng, Canalys’ vice president for mobility.

Apple closely monitoring coronavirus outbreak

Apple CEO Tim Cook also said it was “closely monitoring” the coronavirus outbreak, which makes forecasting for the next quarter difficult.

 

The tech giants have limited travel and reduced its store hours in China. Its suppliers’ factories also remain shut longer than expected.

 

“The situation is emerging and we’re still gathering data,” Mr. Cook said.

 

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