Voracious demand for the iPhone and iPad in China salvaged Apple’s latest quarterly earnings, as customers in the US and other developed markets opted to wait for the next version of the smartphone.
Apple blamed speculation about the launch of new larger iPhones in September for causing “purchasing delays”, leaving group sales in the three months to June slightly weaker than expected at $37.4bn.
A jump in revenue of 28 per cent in greater China – outpacing 6 per cent growth overall – and lower component costs ensured Apple still managed to beat earnings forecasts, with $1.28 per share. Net income rose 11.6 per cent to $7.7bn.
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