Apple's profit soars 31 % thanks to China | RetailDetail

Apple's profit soars 31 % thanks to China

Apple's profit soars 31 % thanks to China

American electronics giant Apple has made another huge profit over the past quarter, thanks to increased Chinese demand for iPhones. There was no good news to report on the iPad however.

iPad sales in a slump

Apple's third quarter net profit grew 31 % to 11.1 billion dollars (10 billion euro), while turnover grew 22 % to 51.5 billion dollars (46 billion euro). In that time frame, Apple sold 48 million iPhones, 20 % more than the year before, and this product alone contributed 32.2 billion dollars (29 billion euro) to the third quarter turnover. The iPad however is not in demand any more: its sales numbers dropped for the seventh straight quarter, this time going down 20 % to 9.88 million pieces, while the Apple Watch was sold 3.8 million times.

 

Apple's big engine of growth is China: the country represented 12.5 billion dollars' worth of turnover (11 billion euro), double what it did last year. Apple expects its fourth holiday season-focused quarter to generate 75.5 to 77.5 billion dollars in turnover (68 to 70 billion euro).

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