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Apple delivers juicy profits with bumper crop of iPhone sales

02 August 2017

While the iPhone 8 is expected to be released in September, some reports suggested it could be delayed until later in the year due to supply chain issues with components needed to create the phone.

Apple has seen "accelerating growth" in the third quarter of 2017 mainly thanks to service revenue, the company announced last night.

2017 is a big year for Apple as the iPhone celebrates its 10th anniversary.

Apple forecasted fourth-quarter total revenue between $49 billion and $52 billion.

Though Apple didn't break out figures for specific models, this could mean customers bought more less-expensive iPads rather scrambled to scoop up to the newer, pricier models, as TechCrunch suggests.

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Apple sold 41 million iPhones in the quarter, up just 2 percent from the 40.4 million it sold a year ago.

Apple's fiscal fourth-quarter guidance implies sales of about 50 million iPhones, vs. consensus estimates of 46 million, Nomura analyst Jeffrey Kvaal said in a report.

Apple Pay is by far the number one NFC payment service on mobile devices with almost 90% of all transactions globally. Revenue increased 7.2 percent, with earnings of $45.4 billion eclipsing the $44.9 billion projection.

Apple said revenue from emerging markets excluding China grew 18 per cent, a bright spot. Meanwhile, Apple's sales growth in the nine months ended July 1 was 4.7 per cent, or lower than that of more mundane companies Comcast and Costco.

He further said that his company is focusing all its energies on India. he said, "We are investing in India.we've already launched an app accelerator center".

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Revenue from other devices, such as the Apple Watch, Apple TV and Beats products, jumped 23% year-on-year.

Apple Inc. chief executive officer (CEO) Tim Cook has said he is very "bullish" and "optimistic" about India, a market where the company is bringing all of its "energies" to expand footprint. Those apps help Chinese users circumnavigate government internet restrictions.

"We've created 2 million jobs in the USA and we are incredibly proud of that", Cook said.

Morgan Stanley said that future prospects for the iPhone were likely to live up to expectations, and also believes the company to be well-placed in all its product lines. "This particular case, we're hopeful that over time the restrictions we're seeing are lessened because innovation really requires freedom to collaborate and communicate".

One clue that Apple's expecting big things in the second half of its calendar year comes from the revenue forecast for the upcoming September quarter that it provided Wall Street. "We think AR will have some important near-term and many significant long-term implications for Apple and others", Macquarie wrote.

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Apple delivers juicy profits with bumper crop of iPhone sales