Apple has witnessed a huge profit of 26 billion pounds in just a period of three months in late 2021 and it is considered the biggest in corporate history. The company's revenue was 100 billion pounds in the last quarter of the previous year.
Turnover of the tech giant gained 11 percent to 9.3 billion pounds during the Christmas shopping month and the primary attraction was its newly launched iPhone 13 models, the iPad mini and Apple Watches. The company is currently led by Tim Cook, who is serving as the CEO for the past decade.
Revenue in the last quarter of 2020 was 83 billion pounds. Apple eyes the holiday season as the most important period and it has a history of launching new and innovative products during the Christmas shopping season.
The total revenue from phone sales was 53.5 billion pounds and this was an increase of 9 percent compared to the previous year and amid fear that people would not be willing to pay for upgrades due to the COVID-19 pandemic effect on the economy as well as financial conditions of many. The iPhones demand was highest in China.
Simultaneously, Apple witnessed a good boost from the services businesses like Apple Music and Apple TV+. The segment saw a rise in revenue by 24 percent to about 15 billion pounds.
The total strength of subscribers in its services segment is around 785 million. A year before the figure was 620 million. Cook stated the primary reason for a jump in the revenue is the company's innovative products and services.
Apple touched the mark of $3 trillion with respect to market value on January 3 and became the first company to achieve the milestone. However, the company has lost about one-tenth of its value lately. The company has been hit by supply issues.