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Apple’s iPhone sales decrease but profits reach historical maximum

Apple’s smartphone sales decreased in the three last months of 2017 compared to the same period of the preceding year, but bigger prices made up for the drop. As the company’s data shows it received an unprecedented $20 bln in the quarter, helped by solid growth in Japan and the EU.

These figures are the first allowing to see the results of high-end iPhone X sales. The device is in great demand, which has gone beyond forecasts, while its minimal price is at around $1,000, CEO Tim Cook said.

Quarterly sales went up by 13% in comparison to the corresponding period of the preceding year to a historical maximum of $88.3 bln. Following the fall at the beginning, company shares rose by over 3% in after-hours trade. iPhone X was released in November, marking the device’s 10th anniversary.

And though the total number of smartphone sales throughout that period was down by 1% year-on-year reaching 77.3 mln, the device sold the most each week was the company’s novelty iPhone X since it hit the market, Cook also said.

At the same time the projections for the next months released by Apple are lower than previously expected, which seems to raise some worries over possible cooling of demand for the company’s devices.

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