Apple sales rise as Chinese smartphone market booms

 

Apple has reported a 5% rise in sales as the technology giant tapped into the rapidly growing Chinese smartphone market.

Apple sales rose 5% on last year in the first quarter to $45.6bn and the firm reported a $10.2bn (£6.1bn) profit.

The company also announced plans to buy an additional $30bn of its stock back from shareholders and to increase its quarterly dividend by 8%.

The technology specialist sold 44 million iPhones between January and March - a rise of 17% on last year.

Apple fans hungry for new products will have been encouraged by chief executive Tim Cook’s promise of "new products and services that only Apple could bring to the market".

Apple sold 16 million iPads and four million Macs in the quarter. The iPod’s popularity continued to fall, with sales down more than 50% on the start of last year.

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