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iPhone sales double Apple profits

iPhone sales double Apple profits

Burgeoning iPhone sales helped Apple to a 90 per cent increase in profits in the first quarter, the company's latest figures reveal.

In the same period last year, the company's profits hit £1 billion and in 2010 it has managed to nearly double this, reaching a figure of £1.9 billion.

Total revenue were for the quarter stood at £8.8 billion, which is an improvement over the £5.9 billion that it made in the first three months of 2009.

Apple sold 8.75 million iPhones in the first quarter of 2010, which is a staggering increase of 131 per cent over last year's figures.

Demand for Macs also remained strong, although the 33 per cent increase in sales is still dwarfed by take-up for the Cupertino-based tech giant's flagship smartphone.

With half a million iPads already sold in the US, 2010 could be the year that Apple wipes the floor with all comers.

Commenting on the performance, Apple Chief Executive Officer said: "We've launched our revolutionary new iPad and users are loving it.

"And we have several more extraordinary products in the pipeline for this year."

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