Apple sold 52.2 million iPhones in the second quarter of 2018, which was down 32 per cent from the first quarter of this year when it had sold 77.3 million iPhones but up only three per cent from the second quarter of 2017 when it had sold 50.7 million units.
Apple's India profits grew 20 percent last quarter to hit record revenue, according to the company's latest earning calls. Apple didn't provide guidance on iPhone sales for the period, but said it expects to total revenue from $51.5 billion to $53.5 billion.
Cook didn't have much to say about devices in the pipeline, but he did say that health care is of particular interest to Apple.More news: Salah First African Named FWA Player Of The Year
Apple has responded to rumours that its flagship iPhone X was failing to excite consumers with record sales. Given our confidence in Apple's future, we are very happy to announce that our Board has approved a new $100 billion share repurchase authorization and a 16 percent increase in our quarterly dividend.
Every sentence in that quote is aimed at Apple's naysayers, which have spent the past few weeks raising questions about the success of the iPhone X, Apple's viability in China, and whether the firm has finally peaked. There are also reports that China's sales in Apple have been weak. The tech titan put to rest some of the market's concerns about whether the phone's $1,000 price tag would hurt iPhone sales.
At 4.1 million units, sales of its Mac computers were down slightly, from 4.2 million units on a year ago, and down from 5.1 million units compared to the last quarter.More news: Jose Mourinho: 'Marouane Fellaini clearly wants to stay'
The average sale price for iPhones rose 11% to $728, driven by the release previous year of the $999 iPhone X, a premium version of the flagship smartphone. As a result, Apple will be buying back stocks that could be worth $100 billion.
"I'm a big believer that both countries can win and grow the pie", Cook said. "We're putting a lot of energy there and working with the carriers in that market, and they're investing enormously on the LTE networks", he added.
"Recent corporate tax reform allows us to deploy our cash more efficiently", said Apple Chief Executive Tim Cook, on a conference call to discuss Apple's results. Apple also increased its quarterly dividend to 73 cents a share from 63 cents.More news: Saquon Barkley To Wear No. 26 For New York Giants