Apple has dominated the smartphone market in the US for a long time now but somehow still manage to shock us every year with sales numbers. The third quarter of 2011 wasn’t any different. Despite Google’s Android making huge gains in marketshare, the iPhone has managed to keep selling at a record pace. Apple reported revenue of $28.57 billion and a profit of $7.31 billion dollars. How big can Apple get?
There is no end in sight for them. Apple sold 20.34 million iPhones in the 3rd quarter alone. With iOS 5 right around the corner they are sure to sell more iPhones. The rumoured iPhone 5 hasn’t been announced yet and hardly any buzz has been stirred up. You can be sure Apple is fighting to get some marketshare back from Android and in the back of their minds know that Windows Phone might finally become relevant when Nokia joins the game.
“We’re thrilled to deliver our best quarter ever, with revenue up 82 percent and profits up 125 percent,” said Steve Jobs, Apple’s CEO. “Right now, we’re very focused and excited about bringing iOS 5 and iCloud to our users this fall.”
“We are extremely pleased with our performance which drove quarterly cash flow from operations of $11.1 billion, an increase of 131 percent year-over-year,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the fourth fiscal quarter of 2011, we expect revenue of about $25 billion and we expect diluted earnings per share of about $5.50.”
The number of iPad sales is also astonishing given the price point. Apple reports that 9.25 million iPads were sold, a huge majority of those being the iPad 2 which was released about 4 months ago. I thought it would take longer for the tablets to catch on and a significant price drop would need to take place but it seems not to be the case. Even in this down economy people find the need for a tablet.
Congrats to Apple on these amazing results. In my opinion the iPhone represents a smartphone that just about anybody can pick up and use with ease. The size, elegance, and simplicity of the device is what makes it a top-seller.