21 April 2010 | Author: J. Morton News Editor

Profits jump 90% for Apple on the back of the iPhone

By becoming near-synonymous with the smartphone explosion of the past couple years, the iPhone has helped Apple Inc reach a dominance in the market - one which continues on till this day, with the company recently announcing its Q1 profits have increased 90 per cent when compared with 2009.

The Cupertino, California-based innovator's profit margin jumped from $1.6 billion (£1 billion) in 2009 to $3 billion (£1.9 billion) in 2010, as it ratcheted up revenues of $13.5 billion (£8.8 billion) from $9.1 billion (£5.9 billion) on the year previous, according to figures.

According to Apple, sales of the league-leading iPhone totalled 8.75 million, up 131 per cent on 2009. Apple's additional products shipped favourably as well - Mac computer sales swelled 33 per cent to 2.94 million units, whilst the company moved 10.9 million iPods, a 1 per cent decrease.

CEO Steve Jobs said it was "the best non-holiday quarter ever", and the figures beat industry analysts' predictions, sending Apple stock to an all-time high of $257.80.

The rest of 2010 could result in 'the year of the Apple' as well, as its new iPad tablet computer has sold 500,000 of its basic version in the United States alone, with a 3G edition and international release still pending.

"We've launched our revolutionary new iPad and users are loving it," Jobs said. "And we have several more extraordinary products in the pipeline for this year."

One 'extraordinary product' could be the iPhone 4G, a device whose details have likely been leaked to the public via Gizmodo and a hapless product tester. The operating system for the new phone has already been revealed, with the company incorporating user suggestions such as multitasking.

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