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Apple rakes in R158bn, China its biggest growth area in Q2

iPhone-maker Apple released its financial results for the second quarter of 2015 yesterday, revealing that it made a whopping $13.2 billion profit off $58 billion worth of sales.

In rand terms, at R12 to the dollar, that’s a lot of cash – R158 billion in pure profit, off R696 billion in turnover.

These figures beat Apple’s own predictions, which pegged revenues at between $52 billion and $55 billion.

Ars Technica reported that these figures come off the back of strong iPhone sales, which Ars said makes up two thirds of Apple’s revenues.

iPads, while the second most popular product range for Apple, fared worse in Q2 2015 compared to Q2 2014 dropping sales by almost 23%, with Mac sales showing positive growth for the same period.

Unlike other smartphone manufacturers which settle for single digit profit margins to maintain market share – Chinese giant Xiaomi reportably makes around 2% on each phone it sells – Apple maintained a profit margin of between 38.5% and 39.5%.

But perhaps the most interesting aspect of the results is the fact that China has just overtaken Europe as Apple’s second-biggest market, pulling in $16.82 billion compared to Europe’s $12.2 billion. The region also shows the biggest growth, so expect Apple to focus even more on that market in the coming months.

According to these figures, Apple is doing pretty well at the moment with quarterly revenues higher than the GDP of Guatemala.

If you’d like to read the full results statement straight from the horse’s mouth, you can find the official press release here.

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