Apple has posted the biggest quarterly profit of all time despite a fall in iPhone sales.
The world’s biggest company posted profits of $20.1bn (£14bn) in the crucial final three months of the year, breaking its own record set two years ago. It came after the release of the £999 iPhone X in November, the biggest update of the handset to date, as well as the release of the iPhone 8 in September.
Although Apple sold 77m iPhones in the three month period, a 1pc fall from last year, the higher price of the new handsets meant revenues from selling iPhones increased.
While much focus is put upon iPhone sale results, there are also big questions surrounding Apple’s other products. Apple’s much-anticipated HomePod will launch next week, with the company taking a big step into the market for smart speakers.
The £319 HomePod will take on Amazon’s Echo and Google Home, and costs significantly more than both. But the HomePod is targeting customers who have stood by Apple for a decade: music lovers who are fussy about design.
Experts say Amazon and Google might trump Apple when it comes to artificial intelligence, but Apple is counting on high quality sound to win the speaker war.