China Overtakes US in iPhone Sales, As Apple Earnings up 33%
For the first time in the history of the iPhone, China sales of the Apple iPhone have overtaken the US sales. The increase of 71% put Apple’s revenue in the asian country to $16.8 Billion, a major chunk mostly doe to the festivities around the Chinese New Year.
The Apple iPhone 6 and iPhone 6 Plus have been the most popular handsets from the company since the launch of the iPhone back in 2007. The last quarter results broke all records pegging the worldwide success of the handsets.
[quote text_size=”small” author=”Tim Cook” author_title=”CEO- Apple inc.”]
The large middle class growth has fueled the high purchase volumes of the handset in China
End of March 2015 Apple’s cash totaled $193.5 billion, up from $178 billion at the end of December, that is more than the total of the next top 15 companies in the Standard & Poor’s 500 list.
Apple has increased its dividend to 11%, In all, Apple pledged to return $200 billion to shareholders through buybacks and dividends by March 2017. Overall revenue rose to $58.01 billion in the second quarter ended March 28, from $45.65 billion a year earlier. That beat Wall Street’s expected revenue of $56 billion.
Apple’s latest hardware product, the Apple Watch, started shipping Friday. So far, availability is limited for the new device with Apple’s website estimating that new orders won’t be delivered until June.