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  5. Apple profits up 70 per cent, quarterly iPhone sales hit 14.1m

Apple profits up 70 per cent, quarterly iPhone sales hit 14.1m

Apple profits up 70 per cent, quarterly iPhone sales hit 14.1m

A surge in demand for the iPhone 4 and iPad helped Apple to profits of £8.8 billion – representing a 70 per cent year on year rise.

The Cupertino-based tech giant’s strong performance was driven by demand for the latest iteration of the iPhone, with some 14.1 million units sold between July and September.

This was despite persistent criticism of the fourth version of the smartphone, with users slamming its propensity to drop calls and a screen that is allegedly prone to cracking.

iPad sales for the quarter hit 4.1 million, defying prognoses that it would struggle to find a market and was little more than an oversized iPhone.

Steve Jobs, Chief Executive Officer at Apple, said: "We are blown away to report over $20 billion in revenue and over $4 billion in after-tax earnings-both all-time records for Apple.

"iPhone sales of 14.1 million were up 91 percent year-over-year, handily beating the 12.1 million phones RIM (BlackBerry maker Research in Motion) sold in their most recent quarter. We still have a few surprises left for the remainder of this calendar year."

Mr Jobs also used Apple’s earnings call to refute rumours that the company is planning a seven-inch version of the iPad and slammed Google’s claim that its Android smartphone operating system is open

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