Apple sells 48m iPhones, making $51.5 billion in sales to boost profits in ‘most successful year’

The company sold 48 million iPhones worldwide

iPhone 6s (AP)

Sales of the iPhone have helped Apple record another quarter of booming profits despite reports of an economic slowdown in China.

Apple said sales in Greater China hit $12.52 billion (£8.2 billion) in its fourth quarter, more than double the level of a year ago and making up a quarter of its total revenue.

The company, which launched its new iPhone 6s and 6s Plus models in September, sold 48million iPhones worldwide, setting a new fourth quarter record.

Concerns about China’s growth have rocked financial markets of late, after a string of gloomy economic data and a stock market plunge.

The company’s share price took a hit after the results because revenue was slightly down on the previous quarter. Analysts put this down to seasonal buying and said they expect China to replace the US as Apple’s biggest market.

"We continue to have wonderful success there," Apple's chief financial officer, Luca Maestri, told Reuters.

Overall, sales in the three months to September 26 were up 22% to a record $51.5 billion, while net income hit $11.1 billion, in what has been described as Apple’s most successful year.