Apple reveals all-time record iPhone and iPad sales
Apple is showing no signs of slowing down as the tech giant announces record sales (and profits) in the final quarter of 2011 – the first since the death of its co-founder (and genius), Steve Jobs.
We imagine the champagne is on ice as Apple rolled out the big numbers to reveal it has more than doubled its profits to US$13.06bn (£8.35bn), compared with US$6bn for the same quarter in 2010.
According to Apple, Tim Cook's first quarter in charge of the company was their best quarter ever, hitting an all-time record of iPhone sales, which saw over 37 million handsets snapped up by shoppers – up 128 per cent on the corresponding period last year.
iPad sales were equally impressive – up 111 per cent to 15.43 million – while Mac figures showed sales were up 26 per cent on last year, earning Apple 5.2 million.
iPods let the side down, however, as it was revealed sales had slipped 21 per cent year-on-year. Considering sales totalled 15.4 million and Apple owns more than 70 per cent of the MP3 player market, we don't think the company has taken too much of a hit.
Earnings per share were also announced at US$13.87, beating analyst estimates of US$10.08 per share.
Understandably happy chappy Tim Cook said: "We're thrilled with our outstanding results and record-breaking sales of iPhones, iPads and Macs.
"Apple's momentum is incredibly strong, and we have some amazing new products in the pipeline."
Finally, Apple announced it is now sitting on a US$97 billion cash pile and while a specific plan wasn't outlined, Apple's senior vice president and Chief Financial Officer Peter Oppenheimer said, "We are not going to let the money burn a hole in our pocket."
"What we focus on is making the best product," added Cook. "We just want to stay ahead."