Apple sees profits climb following stellar iPhone 12 sales

Apple has seen profits more than doubled between January and March of this year thanks to ongoing demand for the iPhone 12 smartphone range, alongside growth in other products.

In the January-March period, Apple recorded profits of $23.6 billion, representing $1.40 per share, and revenue climbed 54% to $89.6 billion in the fiscal second quarter.

Analysts argue that the introduction of the iPhone 12, a major overhaul for the smartphone which saw a new form factor and the introduction of 5G connectivity, helped Apple’s iPhone sales climb by as much as 66%, representing sales of $47.9 billion.

Some suggest that this growth could lead Apple to post its biggest device sales year since the iPhone 6 in 2014.

In the same period, Apple saw Mac sales climb 70% to $9.1 billion, whilst iPad sales grew 79% to $7.8 billion. CEO Tim Cook attributed some of the success in this department to the COVID-19 pandemic, which forced students and professionals to work from home.

Apple’s services division reached $16.9 billion in the sale quarter, up more than a quarter, despite the introduction of its new App Store relief fund, which allows smaller, independent developers to apply for a 15% revenue cut from App Store sales rather than the usual 30%.

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