With new chief executive Timothy D. Cook at the reigns, Apple continued to increase profits behind its signature IOS products. The company’s revenue sky rocketed up to $39.19 billion, with $7.9 billion in Chinese revenue making up a large portion of the difference from last year’s $24.67 billion figure. Cook said the company’s success in China has comprised about 20 percent of Apple’s total revenue.
The spark in the East may be attributed to the release of the iPhone 4S, which reached Chinese markets in January. While retailing at $800 in China, the handset has been well received, perhaps even more so than in the U.S. Following the 4S’s October release in the States, Apple blamed a rare disappointing quarter on rumors of an iPhone 5 model, which have yet to be confirmed. Now, Apple claims to have sold 35.1 million iPhones in the first 3 months of 2012. That figure, combined with the sale of 11.8 million iPads, should remove any doubt as to why Apple is the world’s highest traded company.
Coming off this early success, which saw the companies stock price rise by 38 percent, Apple must again face rumors of the iPhone 5, and possible shortages of the newest iPad model, which doubled the sales of Apple computers during the quarter. Booming sales of IOS devices may slow as consumers wait for updated models, as can be expected in any sector of the technology industry. Even so, fans of this tech juggernaut will be eagerly awaiting the next big thing.