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Apple profits up by 33%; to return more cash to investors

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By NewsGram Staff Writer

Beating analysts’ expectation, Apple has touched remarkable quarterly earnings and revenue.

The firm reported that it sold 61.1 million iPhones in the first three months of 2015. The sale drove company’s profit up by 33% from the previous year.

A profit of whopping $13.6 billion was reported by Apple, while the revenue rose 27% to $58 billion.

In a statement, the technology giant said that iPhone sales in greater China outpaced those in the US for the first time, helped by the Chinese New Year celebration.

Rising demand for the iPhone 6 and 6 Plus foresees an unexpected rise in its annual profit since 2012.

The decision to make a much bigger device with the iPhone 6 – an idea which Steve Jobs had rejected – has paid off in spades, quoted British broadcaster BBC.

However, sales of Apple’s iPad still remain sluggish. With a sale of 12.6 million iPads, Apple saw a sharp fall of 23% from the previous year.

Apple Inc.’s chief executive, Tim Cook, said, “We are thrilled by the continued strength of iPhone, Mac and the App Store, which drove our best March quarter results ever.”

It was also announced by the firm on Monday that it would broaden its capital return program to $200 billion from a previously announced $130 billion. This estimated figure comes from Apple expanding its share repurchase authorization to $140 billion from the $90 billion announced in 2014, and boosting its dividend 11% to 52 cents per share.

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Apple Gets A Second Patent For Its Fold-able Phone

Chinese electronics giant Huawei could also be getting ready to be the first to launch such a device in November.

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Apple granted second patent for its foldable smartphone. Flickr Commons

 A second patent has been granted to Apple regarding the additions the company intends to incorporate in its originally planned foldable device.

The second patent is focused on a flexible hinge and the use of a fabric for its housing, Patently Apple, an Apple-centric blog focused on the company’s latest Intellectual Property (IP) developments, reported on Tuesday.

According to the report, the description of the second patent claim reads: “An electronic device, comprising a ‘flexible hinge’ coupled between the first and second housing portions wherein the flexible portion of the housing comprises fabric.”

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A demonstration of the newly released Apple products is seen following the product launch event at the Steve Jobs Theater in Cupertino, California, U.S. Sept. 12, 2018. (VOA)

The iPhone-maker received its first patent to develop a foldable smartphone from the US Patent and Trademark office in November 2016 that described a display that could be opened and closed like a book, media had reported.

As smartphones continue to introduce larger and larger phablet sizes, there will come a point where introducing a foldable smartphone will make sense, especially with mobile TV on 5G networks on the way, the report added.

Earlier in September, South Korea-based electronics major Samsung released a teaser of a phone with bendable and foldable display technology that would offer the functionality of a tablet complete with multi-tasking and a big screen.

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Customers look at iPhone 8 and iPhone 8 Plus phones at an Apple Store in San Francisco, California, Sept. 22, 2017. (VOA)

Samsung’s much awaited foldable device could debut in November at Samsung’s Developer Conference.

Also Read: Samsung All Set To Bring Galaxy Tab S4

Chinese electronics giant Huawei could also be getting ready to be the first to launch such a device in November. (IANS)

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