Apple makes a 7.7% profit with iPhone Sales

Apple reported a rise of 7.7% in the second quarter of 2014 with a steady and growing demand for iPhones. However, there has been a decline in the sale of iPad tablet.

The company recorded a profit of 7.7% on the revenue of USD 37.4 billion, which is an 11.6% year-on-year rise.

Tim Cook, CEO of Apple attributed the profits to strong demand of iPhones, Mac, and the steady growth from Apple’s ecosystem. Following this upward climb the consumer electronics company has declared a cash dividend of 47 cents per share of common stock. This will be paid by August 11.

The iPad sales have witnessed a decline of 9.2% year-on-year at USD 12.27 million. This figure is even lower than what the analysts had expected it to be. This poor show negatively impacted the revenues which was lower than the forecasted one at USD 30 billion.

Apple’s deal with China Mobile is expected to give a fillip to the company iPhone sales, and putting it in a fair position to fight the stiff competition from the Android enabled phones.

The disclosure of a patent by Apple has stirred talks about the company’s plan to design technology that is more wearable, such as a smartwatch. However, Cook has confirmed no such talk. All that he has said so far is that he prefers the wrist to be the perfect spot for a wearable gadget, and that innovative products were in oven.

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