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Technology

Posted on February 5, 2018 by staff

iPhone X helps Apple to record profits despite sales dip

Technology

The premium-cost iPhone X has helped Apple to record profits and revenues despite a fall in overall phone sales.

In the last three months of 2017 the tech giant posted a record profit of $20.1 billion (拢14bn) while revenues were $88.3bn (拢61.9bn), up from $78.4bn (拢55bn) in the same period last year.

There was a fall in iPhone sales to 77.3m (down from 78.3m in the final three months of 2016) despite the November launch of the iPhone X after the iPhone 8 range was also launched.

The X 鈥 referred to as 鈥榯en鈥 鈥 incorporates facial recognition technology and starts at 拢999, making it the most expensive iPhone ever made.

鈥淲e鈥檙e thrilled to report the biggest quarter in Apple鈥檚 history, with broad-based growth that included the highest revenue ever from a new iPhone line-up,鈥 said Apple chief executive Tim Cook.

鈥渋Phone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November.

鈥淲e鈥檝e also achieved a significant milestone with our active installed base of devices reaching 1.3 billion in January.

鈥淭hat鈥檚 an increase of 30 per cent in just two years, which is a testament to the popularity of our products and the loyalty and satisfaction of our customers.鈥

Meanwhile iPad sales rose one per cent and Mac computers fell by five per cent.

Apple Music is also set to surpass Spotify in paying United States subscribers this summer.

The Wall Street Journal reports that Apple is gaining subscribers at a higher rate in music streaming鈥檚 biggest market, five percent a month versus Spotify鈥檚 two percent. It now has 36m paying subscribers聽worldwide compared with the 70m announced by Spotify earlier this year.

And that could rise at a faster rate still from February9th when its intelligent home music speaker HomePod goes on sale in the US and UK.

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