{"id":11031,"date":"2022-01-31T17:24:29","date_gmt":"2022-01-31T17:24:29","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/apple-sales-soar-despite-chip-supply-shortages"},"modified":"2022-01-31T18:48:54","modified_gmt":"2022-01-31T18:48:54","slug":"apple-sales-soar-despite-chip-supply-shortages","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/apple-sales-soar-despite-chip-supply-shortages","title":{"rendered":"Apple sales soar despite chip supply shortages"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>Apple sales soared in the key Christmas shopping season, despite constraints due to a global shortage of microchips. Sales at the iPhone giant rose 11% to a record $123.9bn (\u00a392.6bn) in the October to December period, beating forecasts.<\/p>\n

Shares jumped more than 4% in after-hours trade, as the report suggested the firm\u2019s pandemic boom is continuing. Apple has seen purchases skyrocket during the pandemic as people spend more time online.<\/p>\n

The firm\u2019s market value briefly hit the $3tn milestone in early January though its share price has slipped more recently amid weeks of market turmoil.<\/p>\n

Executives had warned last year that the global shortage of microchips might limit its sales, but the firm\u2019s quarterly update to investors on Thursday showed it brushing past those concerns.<\/p>\n

Mac sales were up 12%, while iPhone sales jumped 9%. With few rival phones debuting in the holiday shopping season, the iPhone 13, which started shipping days before the quarter began, led to worldwide phone sales revenue for Apple of $71.6bn.<\/p>\n

Revenue from the company\u2019s services unit \u2013 which includes Apple Pay, the App store and its TV streaming service \u2013 was up more than 23%. The iPad, which executives said was particularly affected by the supply issues, was the one product that showed weakness, with sales slipping 14%.<\/p>\n

Demand in China, where sales rose 20%, propelled the firm\u2019s growth in the quarter. Apple said profits were $34.6bn, up 20%. The company, which has more than 1.8 billion active devices in the market, has been able to put pressure on suppliers and manufacturers to produce big quantities of iPhones and other devices despite shortages brought on by the pandemic and most recently the Omicron variant.<\/p>\n

\u201cThey\u2019ve navigated the supply chain better than everybody, and it\u2019s showing in the results,\u201d said Ryan Reith, who studies the smartphone market for industry tracker IDC. Chief Financial Officer Luca Maestri said that supply constraints would decrease in the current quarter, which ends in March.<\/p>\n

\u201cThe level of constraint will depend a lot on other companies, what will be the demand for chips from other companies and other industries. It\u2019s difficult for us to predict, so we try to focus on the short term,\u201d he said.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. Apple sales soared in the key Christmas shopping season, despite constraints due to a global shortage of microchips. Sales at the iPhone giant rose 11% to a record $123.9bn (\u00a392.6bn) in the October to December period, beating forecasts. Shares jumped more than 4% in after-hours trade, as the report suggested the firm\u2019s […]<\/p>\n","protected":false},"author":84,"featured_media":11030,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,8,9,16],"tags":[234,236,233],"class_list":["post-11031","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-homepage-english","category-miscellaneous","category-twitter","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nApple sales soar despite chip supply shortages - Namibia<\/title>\n<meta name=\"description\" content=\"Apple sales soared in the key Christmas shopping season, despite constraints due to a global shortage of microchips. 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