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Wednesday, December 1, 2021

Apple reveals plenty of profit but keeps Watch sales quiet

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Apple announced another huge profit in its latest financial results, but still has not provided details on Apple Watch sales.

The iPhone maker confirmed profits of US $10.7 billion and revenue of $49.6 billion – led by record third quarter sales of both the iPhone and its Mac computer lines. However, no specific numbers were offered for sales of the Apple Watch, which launched in April, with the technology giant referring to it only as a “successful launch”.

Chief executive Tim Cook said: “We had an amazing quarter, with iPhone revenue up 59% over last year, strong sales of Mac, all-time record revenue from services, driven by the App Store, and a great start for Apple Watch.”

The Apple Watch appeared in the Other Products category in the results: a category that grew by around a billion US dollars on the last quarter, suggesting the smartwatch has had a healthy start to its life.

In total, the California-based firm sold more than 47 million iPhones between April and the end of June, as well as 10 million iPads – a further drop in sales for the tablet, which has been in steady decline.

Meanwhile, rival Microsoft has reported the biggest quarterly loss in its history, as a result of its $7.6 billion purchase of Nokia.

The US-based technology giant announced a loss of $2.1 billion for the fourth quarter of its financial year, with revenue of $22.2 billion. The Windows software maker did however also announce a 117% increase in its Surface tablet business as it continues to do battle with Apple’s iPad.

The Surface business is now worth 888 million US dollars, and the Xbox was on the up too, with revenue from the games console up 27%.

Chief executive Satya Nadella said: “Our approach to investing in areas where we have differentiation and opportunity is paying off with Surface, Xbox, Bing, Office 365, Azure and Dynamics CRM Online all growing by at least double-digits.”

A lot of hope will now be pinned on the upcoming launch of Windows 10 next week, with Microsoft aiming to draw in new customers with its re-designed desktop software.

“And the upcoming release of Windows 10 will create new opportunities for Microsoft and our ecosystem,” added Mr Nadella.

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