Apple said it would hand a further $70bn (£46bn) back to shareholders following a smashing second-quarter performance that beat Wall Street financial analysts expectations, taking its by back total to $200bn (£130bn).
Apple has sold more iPhones in China than the US for the first time the company’s blockbuster results. Apple Sold 61.2m phones in the three months to March 28, 2015, compared with 37.2 last year same period. And 74.5m in the first quarter which included the Iphone6 sales which was released in September 2014, and boosted Christmas sale.
The Chinese New Year aided Apple to sell more of its smartphones in the China than US for the first time.
A 71 per cent surge in total revenues from China to $16.8bn as Chinese took a liking to give expensive Apple smart phones to friends and relatives in line with Chinese tradition.
According to Tim Cook “Chinese middle Class are lining up to buy our phones sales in China, that’s where the bulk of our sales are going. We are really proud of the results in China and we are continuing to invest in the country.”
The iphone6’s larger screen version has been widely blamed for lack lustre eroding sales of iPad tablet which dropped to 12.6m in the second quarter from 19.5m in the same period last year and 21.4m in the first quarter. Apple sold 4.6m Mac in the last quarter, up from 4m in the same three months of 2014, but down from 5.5m in the first quarter.
Overall, Apple revenues rose 27 per cent to $58bn (£38bn) as a result Apple is sitting on$193.5bn (£126bn) in spare cas,up $15.6bn (£10bn) from the last quarter.