Apple records most Profitable Quarter Ever as sales Hit $111bn despite the Pandemic

Apple records most profitable quarter ever as sales hit $111bn

 

Apple has recorded the most successful quarter ever in sales with profit as high as $111bn despite covid-19 pandemic.

Apple announced that its sales had reached another record, as during the Christmas period, families bought its latest phones, laptops and gadgets.

Sales hit more than $111bn (£81bn) in the last three months of 2020 – up 21% from the previous year as the pandemic forced more online activity, fueling demand for new technology.

Apple now counts more than 1.65 billion active devices globally, including more than 1 billion iPhones.

Apple said the record came after launching its new iPhone 12 suite of phones, which convinced a large number of phone users to switch to the company or to upgrade from older models.

The company also said growth was particularly strong in China, helped in part by demand for phones with new 5G networks.

Read also: Apple Warns on Danger of iPhone 12 Handset To Some Users

Sales in the firm’s greater China region, which includes Hong Kong and Taiwan, jumped 57%. In Europe, sales roles 17%, and they rose 11% in the Americas.

Luca Maestri, Apple’s chief financial officer, also affirmed how well their products are doing around the world. “As we look ahead into the March quarter, we’re very optimistic.”

Big Tech has flourished during the pandemic as other businesses have struggled to survive.

There are other reasons for some of these incredible figures. Certainly, looks like iPhone lovers were actually holding out for the new 5G enabled iPhone12.

Covid-19 implies that people spend more time buying things online indoors, watching events online and chatting online.

On Wednesday, January 27, Facebook also announced that increased online shopping during the pandemic helped raise ad revenue by 30 percent in the quarter.

The number of people active on its apps – which also include WhatsApp and Instagram – also rose to 2.6 billion daily, up 15% compared to 2019.

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