Apple Inc has announced the financial results for its fourth quarter (ending 27 September 2014), where the company posted quarterly revenue of US$42.1 billion and net profit of US$8.5 billion. Apple also provided a bullish guidance for its fiscal 2015 first quarter results.
iPhone - stellar performance amidst China’s woes
In this quarter, Apple reported that it sold 39.3 million iPhones, of which 10 million were new iPhone 6 phones, sold in the first three days of sales. Euromonitor International expects the new iPhone 6 and iPhone 6 Plus phones to propel the company’s sales to more than 181 million units in 2015, a staggering 9% growth over 2014.
China is the world’s largest smartphone market, with close to 30% of all smartphone global sales in 2014 coming from the Middle Kingdom. Critically, China Mobile, the world’s largest telco, is selling iPhones to its 288 million mobile subscribers, of which 41 million are on the high speed 4G. That said, Apple faces an uphill battle in China with local manufacturers like Lenovo, ZTE and XiaoMi and Apple’s global foe, Samsung currently dominating. China remains a key market to help drive future growth for Apple, with sales of its iPhone range expected to exceed 20 million units in 2015 and in particular, where demand for larger screens phones is rising fast.