Monday February 18, 2019
Home Business Apple profits...

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

0
//

apple-invite

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.

Next Story

Samsung Competes Apple, Launches Stores and Expand Retail Footprints in US

On February 20, Samsung is also hosting its "Unpacked" event in San Francisco, where it will announce its first foldable smartphone and "Galaxy S10".

0
Samsung, Apple
Samsung's retail presence in the US was marked only by pop-up stores and dedicated spaces in franchisees like Best Buy. Pixabay

Keeping in line with the prevailing competition with Apple, Samsung is planning to inaugurate three full-scale stores in Los Angeles, New York and Houston on February 20, aiming to expand its retail footprint in the US, Apple Insider reported.

Samsung intends to allow users to try and buy its products ranging from smartphones to Virtual Reality (VR) glasses and televisions via these retail stores.

Much like Apple Stores, the South Korean giant plans on providing in-person customer support along with walk-in repairs available for mobile devices.

Apple, Samsung
Apple has long touted its retail stores as one of its key advantages, since people can try products in advance and have a place to turn if they need help with setup or troubleshooting. Pixabay

Up until now, Samsung’s retail presence in the US was marked only by pop-up stores and dedicated spaces in franchisees like Best Buy. This move comes at a time when Apple is coping with declining iPhone sales, driven mostly by tough competition in China from local smartphone makers.

“Apple has long touted its retail stores as one of its key advantages, since people can try products in advance and have a place to turn if they need help with setup or troubleshooting. It remains to be seen whether Samsung would be able to cultivate an equal or superior level of support and whether or not will enough people choose to shop at outlets instead of online or at the many third-party vendors that carry Samsung gears,” the report said.

ALSO READ: Facebook, FTC Discuss ‘Multibillion Dollar’ Fine for Privacy Lapses

Due to low traffic and poor response, the company failed in its attempts at retail expansion in the UK and withdrew quickly.

On February 20, Samsung is also hosting its “Unpacked” event in San Francisco, where it will announce its first foldable smartphone and “Galaxy S10”, the report noted. (IANS)