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  1. Apple earnings boosted by 1.2 billion iPhone sale, but it is the iPad which beat all expectations

Apple earnings boosted by 1.2 billion iPhone sale, but it is the iPad which beat all expectations

Apple has put up its Q3 earnings report and the biggest takeaway from the results is that the company has sold a huge number of iPhones and iPads.

By: | Published: August 2, 2017 5:05 PM
apple earnings, apple revenue, apple q3, apple third quarter, apple quarter, apple ipad, apple iphone, apple september, apple launch, apple iphone launch, iphone, iphone sale, ipad sale, iphone revenue, apple results, apple quarterly, apple june quarter, ipads, iphones, apple shares, apple growth, apple tim cook, tim cook, apple cash, apple cash reserve Apple said it hit a milestone of 1.2 billion iPhones sold in just a decade, with 41 million sales in this quarter. But the biggest hero in this June quarter has been the Apple iPad. (Image: Reuters)

Apple has put up its Q3 earnings report and the biggest takeaway from the results is that the company has sold a huge number of iPhones and iPads. Apple also signalled that its upcoming 10th-anniversary phone lineup is on schedule. The April to June quarter is usually a weak one for Apple since the market awaits product launches which take place in September, especially the iPhone announcements. But this results show that people may not be as interested as ever to wait for a new launch, and instead go for the model which is already out. Apple also said it hit a milestone of 1.2 billion iPhones sold in just a decade, with 41 million sales in this quarter. But the biggest hero in this June quarter has been the Apple iPad.

Meanwhile, sales of the iPad struck 11.4 million. This figure is a 15 percent rise in the number from the same period one year back. The iPad sale made $4.9 billion in revenue for Apple. The company has attributed the success of iPads to a larger push in the education and enterprise sector. Over the last few years, the was a gradual decline in the sale of Apple iPads. This was also due to the fact that the tablet segment seemingly had lost steam at a global level. In the first quarter of 2014, iPad sales had set a new record of 26 million which gave the company $11.5 billion in sales. Following this, most of the subsequent quarters witnessed declining sales of the iPad. In the last three or four years, Apple’s iPad business saw a steep fall in sales. However, Apple is still the world leader in the tablet market.

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Earlier in 2017, the company had finally decided to revamp its iPad lineup. Apple had introduced a 9.7-inch iPad with costs $329 (around Rs 21,000), which makes is the entry-level iPad for first-time buyers. The company replaced the iPad Air 2 with the budget tablet, with a host of new improvements. It features a 9.7-inch Retina Display, an all-day battery life, A9 chipset, and compatibility with the latest version of iOS. It’s possible to say that the launch of Apple’s new 9.7-inch iPad has made a strong impact not only on budget conscious consumers but on the education market.The company also updated its iPad Pro models including the launch of a new premium model with a 10.5-inch display, which seems to have made an impact.

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So, Apple has signalled a continued recovery in iPhone sales after 2016’s declines, with a 7 per cent increase in revenues this quarter, which also saw the iPad return to growth for the first time in more than three years. Apple’s overall revenues for the June quarter were $45.4 billion.

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