Apple Net Profits doubles due to high iPhone demand

Apple is a company that although started out producing the Macintosh computers many years ago now relies on other range of products for most of their income. Over the past few years, Apple has started to rely on the iPhone and the iPad for most of their revenue and this year, they have announced that their profits for the fourth quarter of last year have more than doubled thanks to the demand for the iPhone.

Apple has been completey turned around by the iPhone and the iPad devices which now account for a  huge percentage of their revenue. Apple has now announced that in the three months leading up to the end of last year, they had an income of $13.1 billion which is one of the highest quarterly profits on record for the company. This puts Apple in the same league as some of the world’s largest oil companies with more than an extra $13.87 profit per share than in the year prior to this.

Apple managed to sell a total of 37 million iPhones in the fourth quarter of the year with many customers picking up their latest iPhone 4S mode. This puts more pressure on Google Android and other competitors than ever before as Apple’s place in the Smartphone market is more than confirmed as the company to beat. Apple is looking forward to a similarly profitable year this year with the release of the iPhone 5 and iPad 3.

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