Apple iPhone 7 Popularity Boosts Revenues To £60bn

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However, iPad and Mac sales are less than stellar

Apple’s iPhone 7 has helped the Cupertino company bounce back from a triple quarter sales slump after the iPhone 6S failed to impress at the end of 2015.

The company’s first quarter results for 2017 show it sold more 78 million iPhones to generate a revenue of $54 billion (£42bn) for the premium smartphone line.

Apple’s iPad line sold 13 million units, generating $5.5bn (£4.3bn) in revenue, and its Mac range shifted 5.3 million units to generate $7.2 billion ($5.7bn).

These figures were not so impressive, with Apple seeing a drop in unit sales of 19 percent against the same period a year ago, showing that the iPad line is in need of a refresh to give its sales a shot in the arm.

In total for the first quarter of 2017, Apple made $78.4 billion (some £59.4bn) in revenue, of which $17.8 billion (£14.2bn) was profit, securing its position as the most valuable company in the world.

iPhone 7 helps Apple roll in cash

Apple iPhone 7 PlusApple’s biggest market remains the US, followed some way behind by Greater China and then Europe, indicating there still a lot more of the smartphone and mobile devices market that Apple could snap up if its can retain its sales growth, which for the iPhone saw a five percent increase over the same October to December period in 2015.

According to Apple CEO Time Cook, the rise in performance and revenue was brought on by strong sales across the Christmas holiday season.

Apple iPhone 7

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“We’re thrilled to report that our holiday quarter results generated Apple’s highest quarterly revenue ever, and broke multiple records along the way. We sold more iPhones than ever before and set all-time revenue records for iPhone, Services, Mac and Apple Watch,” said Cook.

“Revenue from Services grew strongly over last year, led by record customer activity on the App Store, and we are very excited about the products in our pipeline.”

With Apple’s Services division including iCloud and the App Store seeing the fastest growth of all Apple’s offerings, climbing by 18 percent compared to the same quarter last year, it is no surprise Cook is enthusiastic about Apple’s future performance.

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