Apple reports biggest annual profit in its history

YEREVAN, OCTOBER 28, ARMENPRESS. Apple has recorded the biggest annual profit in corporate history, with record sales of the iPhone helping it to make $53.4bn (£35bn) in the last 12 months.”Armenpress” reports about this, citing telegraph.co.uk.

Apple has been facing questions about its ability to maintain the tremendous growth that propelled it to a $750bn value this year, as China's economic troubles raise fears about customer demand for its pricey devices.

Analysts have also suggested that the Apple Watch, the company's first new product category since Steve Jobs' death four years' ago, has got off to a slow start since launching earlier this year.

Apple's full-year revenue reached $233.7bn and annual profits were $53.4bn - equivalent to just over $1bn a week.

Tim Cook, Apple’s chief executive, said the quarter had been “a very strong finish to a record-breaking year”, and that sales in China, which Apple expects to become its biggest market, had been strong despite recent economic turmoil.

Looking at our sales trends I wouldn't know there's an economic issue at all in China,” he said.