Apple reveals healthy iPhone sales as Cook hints at more handset variations

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Going forward, Apple expects revenue between $51.5 billion and $53.5 billion for the third quarter, which would be another record. The iPhone sales also rose by 3% compared with the same time previous year.

Regarding the rest of Apple's product line, iPad and Mac sales checked in at 9.1 million and 4.07 million units, respectively. This includes an increase of more than 20% in revenue from Greater China and Japan.

"We're thrilled to report our best March quarter ever, with strong revenue growth in iPhone, Services and Wearable", Apple chief executive Tim Cook said. Sales of iPads rose 2% to 9.1 million units compared with the same period a year ago, while Mac sales slipped 3% to 4.07 million. Apple has sold 4.1 million Macs, generating year-over-year growth in many emerging markets including Latin America, West Asia and Africa, Central and Eastern Europe and India.

The hardware sales, together with nearly $10 billion worth of services, translated into revenue of $61.1 billion, and $13.8 billion profit, in line with Apple's own revenue guidance.

Over the past few weeks, the prevailing narrative surrounding the iPhone X has been that sales of Apple's flagship device have been underwhelming.

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With all the dire predictions and forecasts of iPhone sales slowing down, Apple has been facing something of a PR nightmare recently.

Apple Inc is putting a lot of energy in India with an aim to launch all its initiatives, including retail, in the country where it has an "extremely low" overall market share, the technology giant's CEO Tim Cook has said. The chief executives of the world's biggest company by market cap and the world's biggest economy met to discuss trade issues ahead of talks between U.S. and China officials later this week in Beijing.

While talking about the Indian operations, Cook said, "We set a new first-half record". Apple said it will also raise its quarterly dividend by 16% to 73 cents per share in its largest jump in six years. "Given our confidence in Apple's future, we are very happy to announce that our Board has approved a new $100 billion share repurchase authorisation".

But investors have been counting on Apple to give shareholders much of the money coming in from overseas, especially after the company said it meant to eventually have little or no excess cash, after accounting for outstanding debt. HomePod sales weren't broken out and neither Cook nor CFO Luca Maestri had much to say about Apple's new smart speaker.

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