China has said to have accounted for a couple of million units sold during the launching weekend for the new iPhone, contributing to the record-breaking 13 million units sold in the first weekend of the release.
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Apple Pay is a mobile payment and digital wallet offering allowing users to make payments with their iOS devices, including Apple Watch. About two-thirds of people using iPhones before the launch a year ago of the 4.7-inch iPhone 6 and 5.5-inch 6 Plus launch haven’t yet upgraded to the bigger screen phones or to their successors, he said.
The issue was stoked by Apple’s muted forecast for its all-important holiday quarter, as well as the unwillingness of Timothy D. Cook, the company’s chief executive, to go into detail in an earnings conference call about how Apple plans to rev up sales next year.
Apple’s CEO said that his company’s investment in china is meant to last for many years to come.
On the flip side, AAPL sold 48.04 million iPhones and 9.88 million iPads during the same quarter – both of which were slightly below expectations. The company also saw a 127% rise in App Store revenue, driven by more than 1 million developers in China building for iOS.
Apple Inc.’s quarterly sales forecast for the Christmas shopping season fell short of a few analysts’ estimates Tuesday, showing there may be a limit to the growth it can squeeze out of the iPhone.
Total revenue, income: Consolidated global sales rose 22.3 percent in the quarter to $51.5 billion and, for the year, by 28 percent to nearly $234 billion. Consider that Apple’s annual revenue is almost 35 times greater than the world’s largest music company, Universal Music Group. In the latest quarter, iPhone shipments rose 22 percent to 48 million units representing revenue of $32.2 billion. Apple could be hoping its new super-size iPad Pro, due next month, will reverse the trend.
The Verge reports that there is no word whether more banks and credit card companies will open to Apple Pay.
The results underscored the growing importance of China to Apple’s future.
A chart of iPad sales growth year over year.
Cook cautioned that he doesn’t think Apple can withstand major economic shocks in China, but he said right now, “You really can’t tell the difference, if you look at our daily and weekly numbers”.
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Even Apple’s mysterious “other products” category had an outstanding quarter.
