Displaying items by tag: iPhone
Apple has delivered record results for the final three months of last year, delivering gains in sales of iPhones even as the company transitions to digital services and wearables.
Net profit hit an all-time high of $22 billion on record quarterly revenue of $91.8 billion, the California tech giant said of the results which were far stronger than most analyst estimates.
Previously, Apple told investors that it expected revenue of “between $85.5 billion and $89.5 billion” in the quarter, along with “gross margin between 37.5 percent and 38.5 percent.”
"We are thrilled to report Apple's highest quarterly revenue ever, fueled by strong demand for our iPhone 11 and iPhone 11 Pro models, and all-time records for services and wearables," said Apple chief executive Tim Cook.
The results come with Apple seeking to shift its revenue mix amid a slumping smartphone market and growing competition in the segment, and relying more on services such as music, streaming television and other digital content.
Shares in Apple jumped two percent in after-market trades that followed release of the fiscal first-quarter earnings, extending a remarkable streak for the company. Shares have doubled from a year ago – lifting its valuation to more than $1.3 trillion.
The company has expanded its services with a streaming television offering, digital payments and wearable tech such as its AirPods and updated Apple Watch.
Analyst Yoram Wurmser of the research firm eMarketer welcomed "a strong quarter for Apple, primarily driven by strong sales of the iPhone 11 lineup."
Apple bought back $20 billion in shares during the quarter and paid some $3.5 billion in dividends as part of a stated mission to be "net cash neutral" some time in the future, Maestri said.
Apple has stopped reporting unit sales for the iPhone, which has been the main cash-generator for the company in recent years, but sales revenue for its smartphone sales was up nearly eight percent in the quarter at $55.9 billion.
Services revenue rose 17 percent from a year ago to $12.7 billion, driven by the launch of its Apple TV+ service and its new credit card.
The Apple TV+ on-demand streaming service launched in more than 100 countries at $4.99 per month, at a price lower than those offered by rivals such as Netflix.
For the category of wearables and home accessories -- including its HomePod speaker, Apple Watch and other gadgets -- revenue increased some 37 percent to $10 billion.
Apple forecast revenue between $63.0 billion and $67.0 billion in the current quarter.
US technology giant Apple is reportedly mulling over the prospect of entering into an unlikely partnership with Chinese vendor Huawei in an effort to address issues with the modem technology in its flagship iPhones.
US chipmaker Qualcomm has won its protracted legal battle with Apple over patented technology used in iPhones.
A jury in a federal court in Southern California ordered that Apple pay Qualcomm $31m after deliberating that the smartphone manufacturing behemoth had committed patent infringements for chips used on iPhone 7, 8 and X models.
The damages were tabulated from July 6, 2017 through the end of the trial, according to a Qualcomm statement. The legal representative for the chipmaker expressed their delights at the jury’s decision following a lengthy judicial process.
Qualcomm’s general counsel Don Rosenberg said, “Today's unanimous jury verdict is the latest victory in our worldwide patent litigation directed at holding Apple accountable for using our valuable technologies without paying for them.
Qualcomm shares closed the formal trading day up 2.2 percent to $56.60.
The patents at the center of the issue in the case involved "flash-less booting" that allows devices to connect quickly to the internet after being turned on and technology that lets smartphone apps move online data efficiently
A third patent related to promoting rich graphics in games while protecting battery life, according to Qualcomm.
On another front in the complex legal battle between two US companies a federal judge in Southern California on Thursday issued a preliminary ruling that Qualcomm owes Apple nearly a billion dollars in patent royalty rebate payments the chip maker is withholding, according to US media reports.
Apple sued Qualcomm two years ago over the payments, which were part of a contracted arrangement. The judge's decision will be on pause until after a trial in the case. Apple did not immediately respond to a request for comment.
US technology behemoth Apple is under-fire following the stunning revelation that its FaceTime app was allowing users to listen to audio from the phone of the person they’re calling even if the recipient hadn’t picked it up.
US technology giant Apple has announced that it will impose a recruitment cutback - which has been primarily forced due to weak sales on the company’s iPhone devices in the lucrative Chinese market.
Bloomberg has reported that Apple CEO, Tim Cook, announced the recruitment cutbacks just a day after he sent a letter to Apple investors that warned the company was bracing itself for a year-on-year decline in revenue for its fiscal Q1, which would shave $5bn from its guidance.
In a series of meetings that were held following the disclosure, it was reported that Cook informed some staff that a number of divisions would reduce hiring, but stated that he didn’t think a complete freeze in recruitment would be an appropriate solution to take.
In addition to this, it has been further disclosed that the CEO is also yet to determine which divisions will face hiring cutbacks. However, it is believed that divisions such as Apple’s AI team will not be affected due to the leverage of investment made by the US tech company into the emerging technology.
The move will also not affect plans to open a state-of-the-art new office in Austin, Texas or its expansion plans in Los Angeles, where the company is fleshing out its original video content ambitions.
Bloomberg also pointed out that Apple has hired new staff at a significant rate over the past decade. The company recruited 9,000 workers in its most recent fiscal year, taking the total up to 132,000, while adding 7,000 a year earlier.
US technology behemoth Apple has signed a new agreement with Samsung in relation to its streaming and content services in an effort to offset a decline in iPhone sales. The deal brokered between Apple and the South Korean conglomerate will enable the use of iTunes streaming services on Samsung smart TVs.
A German court ruled in favor of US chipmaker Qualcomm in a patent dispute case against Apple, which could lead to a ban on sales of iPhones in Germany. This marks a second major win for Qualcomm in a month after a court in China on December 10 ordered a prohibition on iPhone sales over a separate patent dispute there.
The chipmaker has won a preliminary injunction that would ban the sale and import of Apple’s recent iPhone models in China, including the iPhone 6S, 6S Plus, iPhone 7, 7 Plus, 8, 8 Plus, and iPhone X.
The court ruled that Apple is violating software patents held by Qualcomm that are specifically related to resizing pictures and managing applications.
Qualcomm has accused Apple of ‘stealing’ Qualcomm’s source code to share with rival modem supplier Intel, and that the American phone giant continues to benefit from their intellectual property while refusing to compensate them. It has spent the past year trying to ban iPhone sales in China.
Apple accuses Qualcomm of using its market dominance to unreasonably raise prices, commenting:
“Qualcomm’s effort to ban our products is another desperate move by a company whose illegal practices are under investigation by regulators around the world.”
Apple continues to sell the devices in China.
Google is set to expand its virtual telecommunication service “Google Fi” to a wider range of devices, including Samsung and iPhones. The service had been previously limited to select Android-powered smartphones, and to newer Pixel handsets made by Google.
"Our plan now works with the majority of Android devices and iPhones," Fi director Simon Arscott said in a blog post, who promises a simple pricing scheme that makes the Fi wireless experience “fast, easy and fair”.
Fi - previously known as Project Fi - works by hopping between carriers; shifting smartphone service between Sprint, T-Mobile, US Cellular, and Wi-Fi hotspots to provide optimal signals, says Google. Launched in 2015, Fi offers its US users unlimited domestic call and texts, plus texting internationally, for $20.
The service will let users pay based on how much data they use and allow for international roaming in up to 170 countries and territories.
iPhone-maker Apple is being sued by a Japanese software company over its ‘animoji’ feature in its latest iPhone X smartphone. The Tokyo-based company Emonster took Apple to a federal court in San Francisco, saying it holds the US trademark on the term ‘animoji’ and that Apple’s use of the word is a blatant infringement.
The iPhone X, scheduled for release in November, features the ability for users to animate facial expressions of ‘emojis’ by utilizing facial recognition technology. The feature was touted as a “great experience” by Apple’s chief marketing officer, Phil Schiller, during the launch of the iPhone X on Sept. 12.
According to the lawsuit made by Emonster, chief executive Enrique Bonasea said the company launched an animated texting app in 2014 called Animoji and registered a trademark on the product, Reuters reported. The lawsuit added that Apple would have been fully aware of the Animoji app because it’s available for download on Apple’s App Store.
Emonster said: “Apple decided to take the name and pretend to the world that ‘Animoji’ was original.” The Japanese firm is seeking damages (unknown amount) and a court order to block Apple from using the term ‘animoji’.
Apple is also locked in a legal battle with chipset maker Qualcomm, with the iPhone maker objecting to Qualcomm’s business model of requiring partners to sign patent license agreements before purchasing chipsets.
The United States International Trade Commission (ITC) commenced an investigation into Apple, Qualcomm recently announced, to examine whether Apple engaged in unfair trade practices by importing and selling certain mobile electronic devices, including iPhones and iPads that infringe one or more claims of six Qualcomm patents.