Apple posts record revenues for first 2014 fiscal quarter

Apple posts record revenues for first 2014 fiscal quarter

PanARMENIAN.Net - Apple posted record revenues for its first 2014 fiscal quarter, buoyed by a jump in sales for its iPhone and iPad ranges, according to V3.

The company posted profits of $13.1bn on record revenues of $57.6bn, for Q1 2014, ending on 28 December 2013. The bulk of its revenue came from sales of the iPhone. Apple sold 51 million iPhones, although the difference in sales between the latest iPhone 5S and the iPhone 5C was not detailed. This is up from the same quarter in 2012 when Apple sold 47.8 million iPhones.

Twenty-six million iPads were shipped in the final quarter of the year, earning the company $11.5bn in revenue. Apple launched its latest iPad Air just before the start of the quarter, and it was lighter, thinner and more powerful than previous versions of the tablet.

The iPod line continued its steady decline, selling just six million units, and the Mac line of MacBooks, iMacs and Mac Pros netted the firm $6.4bn with 4.8 million units shipped. The company's latest high-end Mac Pro will begin to ship in February.

Apple CEO Tim Cook hailed the quarter as a success, although admitted that business in North America had dented revenue. Cook blamed this on unexpectedly high iPhone 5S sales, which meant the company was unable to match demand for most of the quarter.

Cook also detailed the company's thoughts behind the iPhone 5S's Touch ID fingerprint sensor, although he would not reveal any specific plans for how the feature would be developed in the future. "The mobile payments area in general is one that we've been intrigued with. And that was one of the thoughts behind Touch ID. But we're not limiting ourselves just to that," he said, according to V3.

China was also an area of growth for the firm. Apple struck a deal with the country's largest mobile provider China Mobile, as relations between the company and the Chinese government, media and consumers become more positive after a rocky start to 2013.

The long-rumored iWatch device remained absent from the company's rhetoric, and Cook only gave fleeting mentions to future products, confirming that the firm was "investing heavily" in research and development for future products.

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