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Apple Sells More iPhone and Shares Jump

Apple iPhone

The sale of Apple also raised is shares by 7 percent in after-hours trading. Although iPhone’s sales were dropped in the second quarter, but it pushed its sales in the third quarter with total revenue of 14.6 percent.

The sale of Apple also raised its shares by 7 percent in after-hours trading. Although iPhone’s sales were dropped in the second quarter, but it pushed its sales in the third quarter with total revenue of 14.6 percent.

However, The smartphones has started to disappear in China because of economic instability. An analyst at Moor Insights Moorhead said that China has been a big disappointment. He said that Huawei and Samsung are much in competition and from the past year Chinese economy has not been doing well. He also said that the App Store and iCloud increased its revenue and these things are bright spots for Apple.

The Chief Financial Officer Maestri while talking to Reuters said that Apple channel inventory reduced, which means sales was better. He said that since the gadget’s release in 2007, it was the first time that sales felled in the last quarter. Although he said that gadget’s price would rise in the September quarter.

The CEO of Apple Tim Cook said to analysts during a call that they have launched a new Smartphone this year, “iPhone SE” which is cheaper, with 4 inch display and for those people who could not afford an iPhone. He added that this launch has opened doors for customers whom they were not able to reach.

Cook added that Apple stores and movies have not been used in China much. He also added that Apple has worked with the regulators to get over the services; they had to face loss of $ 1 million in market when they were there for a short time. He said that it’s not revenue related problem, they wanted to give these services to their customers.

Apple’s Appstore, Apple Pay and iCloud almost generated revenue of $ 6 million, keeping 18.9 percent higher than the last year. Apple shares also rose 7 percent to $103.47 in after-hours trading.

The company is also going to launch its iPhone 7 range in September.

 

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