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03 November 2017, 12:53 | Virginia Benson
Apple's iPhone X to go on sale from 6 pm in India
Revenues were up 12 per cent to US$52.6 billion.
The company's net income rose to $10.71 billion, or $2.07 per share, in the quarter, from $9.01 billion, or $1.67 per share, a year earlier. Analysts projected $1.87 a share and sales of $50.7 billion. The real question is: Can Apple fulfill demand, or will sales be hampered by previously-reported supply chain issues?
Hundreds of people lined up outside Apple Inc's store in central Sydney early on Friday to be the first in the world to get their hands on the new iPhone X, a turnaround from more lackluster launches for the past two iterations of the phone. Revenue hit $3.23 billion in the last quarter, up 36 percent year-over-year.
Production problems have marred the release of iPhone X but the company is still forecasting revenues of between $84bn and $87bn for the next quarter compared with $78.4bn for the same period a year ago.
The tenth anniversary iPhone will go on sale at 8am this morning, with launch events planned at Apple Stores, Optus, Telstra, and Vodafone outlets around the country.
Apple's market capitalization of about $868 billion makes it the world's most valuable publicly traded company.
"We're happy to report a very strong finish to a great fiscal 2017, with record fourth quarter revenue, year-over-year growth for all our product categories, and our best quarter ever for services", Apple CEO Tim Cook said in a statement. The company is also set to sell the HomePod, a Siri-powered speaker to answer both Amazon's Echo line and Google's Home speakers.
Apple has invested heavily in greater China - historically its third-largest market behind the Americas and Europe - and has a nascent customer base in India.
While the Many Apple critic demands that the stock was pretended due to problems in compiling the unique facial classification software. The delay may have prompted some buyers to wait to check out the iPhone X before deciding on its more affordable sibling.
Wang Hao, a 24-year-old engineer in the northeastern port city of Dalian, said he ordered the new phone despite the high price tag. Maestri also told Reuters the company had doubled its revenue in India during the fiscal fourth quarter, though he did not give any details. Updated MacBook Pro models helped move 5.3 million Macs, up 10 percent from a year ago. Apple's research and development spending climbed 17% in the three months through September to $3 billion.
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