Apple records double profits

The rush in the sale of iPhones, especially in China, has led to a doubling of Apple’s profits since the beginning of the pandemic.

The results reflected “optimism” about the days ahead, Apple’s boss said.

As consumers spent more time working, shopping and seeking entertainment online, upgrading to the new 5g phones which were released last year, Apple observed sales of its phones, apps and other devices rise throughout the pandemic.

Customers also bought Mac computers and iPads to tackle working and studying from home, the firm said.

BBC reported the sales to China nearly doubled, leading to overall revenues for the first three months of this year of $89.6bn (£64.2bn), more than 50% up compared to a year earlier.

Profit was $23.6bn, up from $11.3bn for the same period last year.

The chief executive officer Tim Cook said “This quarter reflects both the enduring ways our products have helped our users meet this moment in their own lives, as well as the optimism consumers seem to feel about better days ahead for all of us,”

Paolo Pescatore, analyst with PP Foresight, said it was “another blowout quarter” for Apple.

“The iPhone remains a core product and gateway to the Apple universe,” he added, providing Apple with “a key launchpad” to sell further services.

Apple’s figures across multiple sectors, in the world, are exceptional. In places like China, which has mostly been lockdown-free in recent months, sales were up dramatically.

Apple announced the latest version of its iOS operating system this week.

A new feature will prompt device users to decide whether they are happy for their data to be collected by apps. Many are likely to say no.

Tech firm Facebook also reported bumper revenues and profits.
Fitness and music apps also saw a lockdown boost.

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