Apple hype pushes sales to new record

Much to nobody’s surprise, Apple has again surmounted expectations quite significantly. Even without any significant new release, Apple’s revenue grew 82% in the last quarter, to 22.2 billion euro – analysts had expected ‘only’ 17.6 billion.

Chinese sales explode

Most of Apple’s growth comes from its China region – controversially also including Hong Kong and Taiwan – where sales boomed from $3 billion in 2010 to $8.8 billion in 2011 so far. Tim Cook, Apple’s COO, mentions that sales in the Asia-Pacific reason have “quadrupled year-on-year” and announces that Apple will adapt its Chinese strategies in other growth markets, like the Middle East and Brazil. Still, the US is Apple’s major market with a €7.16 billion turnover. 

Most of the growth was accounted for by iPhones and iPads, with 20.3 million and 9.25 million items sold respectively. Expectations are that the introduction of the iPhone 5 will obliterate this record – inspiring Apple to open 30 more Apple stores before the end of this quarter, most of them in Asia. 

Apple Stores and iLove

These Apple Stores are doing very well: attracting 73.7 million visitors, they have an average turnover of 7.6 million euro, or 2.47 billion euro in total. Apple Stores added 585.5 million euro to the company’s total profit of 5.16 billion. These own stores, and the hype surrounding the brand (which has been dubbed iLove) cause Apple to claim that the company’s presence at important technology fairs is superfluous.