Markets all over the world are coping with sympathy pain following the steep decline of China's stock exchange, but Apple CEO Tim Cook said he's not worried about his company's long-term business prospects in China.
Apple CEO Tim Cook indicated that he has confidence in the company's business in China, especially its iPhone sales, despite investors' fears about slowing economic growth in the world's largest smartphone market that have sent stock markets around the globe spiraling downward.
Apple said it shipped 47.4 million iPhones in its most recent quarter, a figure slightly below what some analysts had expected. However, the company's quarterly profit jumped 38 percent, slightly more than analysts had expected. Apple's stock was down around 8 percent immediately after the news, likely due to investor hopes for higher iPhone sales.
ASPEN, Colo.---Apple plans to release an update on the company's workforce diversity later this summer but a top human resources executive with the company said today that the company has seen some improvements in terms of hiring women and minorities, particularly African-Americans.
Apple said that Jony Ive, its chief designer, has been promoted to a newly created position as Chief Design Officer, but is stepping away from some of his day-to-day duties in his new role.
Apple reported iPhones sales of 61.2 million in its most recent quarter, well above the 58 million iPhones that analysts had been expecting on average. The company also posted increases in its revenues and profits.
Apple CEO Tim Cook said that the Apple Watch "will be the first modern smartwatch--the first one that matters," even if its usefulness is not readily apparent.
Apple will soon start accepting Google's Android smartphones as part of an iPhone trade-in program, according to multiple reports, in an effort to juice sales of its latest iPhones and cut into Android's market share.
Apple CEO Tim Cook said the company's blockbuster holiday quarter proved that the company did not need to make a cheaper iPhone in order to continue to grow its smartphone business. He reiterated that Apple will not make a less expensive iPhone for the sake of making one, and will continue to focus on making great products.
Apple posted a blowout holiday quarter with sales of 74.5 million iPhones and $18 billion in net profit. The results were way above forecasts from most Wall Street analysts. "We'd like to thank our customers for an incredible quarter, which saw demand for Apple products soar to an all-time high," said Tim Cook, Apple's CEO. "Our revenue grew 30 percent over last year to $74.6 billion, and the execution by our teams to achieve these results was simply phenomenal."