Apple announce record profits

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iphone-1.jpgApple today released figures detailing record profits for the company, showing the brand to be all but immune to the currently bleak economic climate.

The company reported revenues of $9.87 billion and net profits of $1.67 billion for its fiscal fourth quarter. The astronomical figures make the quarter the company’s most profitable yet.

This is thanks in part to the continued strong sales of the iPhone. 7.4million touchscreen handsets were sold in the quarter, despite shortages through July and August. The iPod performed well too, selling 10.2 million units, with sales of the iPod touch doubling.

COO Tim Cook also spoke briefly on his hopes for the Chinese iPhone launch. “We’re going to start with about 1,000 points of sale and then expand further over the next several months thereafter,” he said. “We’re not making any projections on the volume, but it is a huge market – the largest market in the world in terms of total phones – and I think it’s very important that we get started to make it as large as possible on smartphones.”

With Apple preparing such big moves in the Chinese market, be prepared to see even greater profits in the future.

Gerald Lynch