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BBC reporting that Apple is doing well with the iPhone. Original article here ---> BBC NEWS | Business | Apple profits up on iPhone sales


Apple profits up on iPhone sales

Steve Jobs said he was "thrilled" with the results
Apple has shrugged off the recession with profits surging on demand for its iPhones, laptops and desktop computers.

The technology giant made a net profit of $1.67bn (�1bn) in the three months to 26 September, up 47% on a year earlier. Sales rose 25% to $9.87bn.

Computer sales grew 17%, and iPhone sales climbed 7%, though there was an 8% drop in the number of iPods sold.

The results come ahead of rival Microsoft launching its new Windows 7 operating system later this week.

Shares in California-based Apple closed at $189.86 on the Nasdaq index, but rose to above $200 in extended trading on the results, which were well ahead of what analysts had forecast.

Premium products

Apple Chief Executive Steve Jobs said he was "thrilled" at selling more Macintosh computers and iPhones than in any previous quarter.

The company sold 3.1 million Macs, a 19% rise from the same period a year ago.

Analysts said that Apple's unveiling of a faster iPhone in June, and cutting the price of the previous version of the phone had helped it boost iPhone sales to 7.4 million devices, half a million more than last year.

The launch of Apple's latest operating system, Snow Leopard, had also driven sales of new computers, said Dan Akerman, senior editor at CNET.com.

"They concentrate at higher-end premium products at a higher margin so they're aiming at the premium consumer."

Meanwhile, Jane Snorek, analyst at First American Funds described the results as "huge numbers" and that they bode well for sales in the next couple of months.

"This makes me think Apple will have a great Christmas."

[Entertainment72]

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