Electronics

Apple Reports Record 3Q

Asian expansion plans key to growth

Published

13 years ago

July 21, 2011

VMSD Staff

Apple Inc. (Cupertino, Calif.) reported record quarterly revenue of $28.57 billion and record quarterly net profit of $7.31 billion for its fiscal 2011 third quarter ended June 25, 2011. International sales accounted for 62 percent of the quarter’s revenue.

Sales of iPhones and iPads drove the quarterly sales growth.

“We’re thrilled to deliver our best quarter ever, with revenue up 82 percent and profits up 125 percent,” says Apple ceo Steve Jobs. “Right now, we’re very focused and excited about bringing iOS 5 and iCloud to our users this fall.”

The retailer is preparing to open 30 new outlets by September, including the company's first in Hong Kong, in connection with its upcoming iPhone 5 launch, according to AppleInsider.com.

Apple's chief operations officer Tim Cook says the greater China market is ripe for retail expansion for the company. Apple previously announced plans to open 25 stores in China by the end of next year.

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