Everybody knows that Apple's smartphone division is the best-selling segment in its business. This has been proven true yet again as very strong iPhone sales has driven the company to another record-setting quarter.
For its fiscal second quarter (which ran from December 2014 all throughout March 2015), Apple set a new record for the period, no doubt spurred by remarkable sales figures for its iPhone and Mac products. On top of that, the company also posted an all-time record performance for its App Store. At the rate that Apple is selling, there is a strong chance that it will have a very strong current period, too.
As stated by Tim Cook, CEO of Apple, the company is witnessing very good sales figures for its iPhone line of products, which displayed revenue growth of 55 percent year on year. Furthermore, Cook revealed that Apple is seeing a higher rate of consumers switching to iPhones than the company has experienced in past iPhone cycles.
Cook confirmed that emerging markets, like China for instance, have boosted Apple's quarterly financial results, with revenue figures up 58 percent. This makes a lot of sense especially when one considers that China just surpassed Europe to become the second largest sales market for the company's products. Apple's sales in the Chinese market, which got further boosted by the Chinese New Year last February, hit a record $16.8 billion, which is way up compared to last year's $9.84 billion.
The Apple Watch may have dominated headlines in the past few days, but there is no doubt in many industry watchers' minds that the iPhone is Apple's bread and butter. For the second period in a row, iPhone sales made up over two thirds of the tech giant's total revenue figures. Big credit goes to the release of Apple's newest iPhone models -- the iPhone 6 and the iPhone 6 Plus -- which were launched in September of last year, and apparently still selling strong until now.
For its fiscal second quarter that ended March 28, the company sold 61.2 million units of iPhones, which is a significant improvement on last year's numbers, which is at 43.7 million units. Sure, 61.2 million units does not beat the 74.5 million units that Apple sold in its fiscal first quarter (which fell on the holiday season), but it is still a bigger number than what was predicted, which was 57.2 million units.
Because of the strong iPhone sales for the recently concluded quarter, Apple's revenue rose up 27 percent to $58 billion, which is higher than the $56.08 billion predicted by analysts. The company's net earnings increased to $13.6 billion, up from $10.2 billion.
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