Los Angeles: Apple raked in 11.1 billion dollars in net profits in the fourth quarter, the company said Tuesday, thanks to the world's continuing appetite for the iPhone.
The company sold 48 million iPhones worldwide in the fourth quarter, a 22 per cent increase on sales in the same quarter in 2014. The quarter reflects initial sales of the iPhone 6s and 6s Plus, the new model that the Cupertino, California-based company introduced in September.
The iPhone makes up more than 60 per cent of Apple's profits, by far the most important slice of Apple's earnings pie. In a conference call to discuss earnings, chief executive Tim Cook said demand for the quarter had exceeded supply.
Demand for the new iPhones got a boost from the company's decision to include China in the initial launch. Apple's China business doubled compared to the previous quarter, to 12.5 billion dollars, about a quarter of total revenues.
Amid a PC market downturn, sales of the company's Mac computers were up 3 per cent to 5.7 million units. Sales of the iPad tablet, on the other hand, sank year-on-year by almost one fifth, to 9.89 million units.
QNA
