Apple Breaks Record for Biggest Ever Company Profit

Apple

Apple Breaks Record for Biggest Ever Company Profit

Apple Announces Company ProfitApple has announced that the company has achieved its highest ever quarterly profit, despite fewer iPhones actually being sold.

 

The firm received £62bn in revenue for the final quarter of 2017, with a total of 77.3 iPhones being sold, which marked a slight reduction when compared against the same period in 2016.

 

Despite this, the company was able to post a record profit largely thanks to the hefty cost of the iPhone X, which enabled Apple to increase total company profit to £14bn.

 

However, industry experts have expressed doubts over the mainstream appeal of the phone (which starts at £999 in the UK and $999 in the US) and whether iPhone sales can continue to grow long term.

 

“Once you get past all the enthusiasts who want the iPhone X, you get down to a lot of people who think $1,000 is a lot of money for a phone,” said analyst Bob O’Donnell of research firm Technalysis.

 

“We may be getting near the peak of the smartphone market, and that impacts everyone, including Apple.”

 

Further to this, and potentially more troubling, is that Apple may have lost vital customer loyalty after recently admitting that they released a software update that purposely slowed down older iPhone models in order to “protect electronic components”.

 

So, going forward, it will be interesting to see if the volume of iPhone’s continues to fall throughout 2018.

 

Of course, the iPhone is largely responsible for the surge in online mobile searches, which has recently overtaken desktop computers as the most commonly used device to carry out a Google search. So, the phone has certainly revolutionised the way that we search online, so it will be interesting to see if Apple can turn around its recent drop in sales over the coming year.

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