AFP, Hong Kong :
Apple profits soared by a fifth as its flagship iPhone X hit stores in Asia Friday, with the company predicting bumper sales despite its eye-watering price tag.
Net profit rose 19 percent from a year ago to $10.7 billion in the fiscal fourth quarter to September 30, Apple said. Revenues were up 12 percent to $52.6 billion.
Release of the earnings figures pushed Apple shares up more than three percent to $173.20 and came as iPhone X models began hitting the market in some time zones.
The flagship handset features facial recognition, cordless charging and an edge-to-edge screen made of organic light-emitting diodes used in high-end televisions.
It marks the 10th anniversary of the first iPhone release and hits about 50 markets around the world Friday.
In Hong Kong, buyers who had pre-ordered the phone online queued to pick up their new purchases, saying they were willing to pay for what they saw as a landmark model.
“It’s the 10th anniversary phone-anyway, other phones like the Samsung are not much less,” said banker Tony Yeung, 35, as he queued outside the Apple store in Hong Kong’s Festival Walk mall.
“It’s convenient. You can unlock the phone just by holding it up to your face in bed after you wake up,” Yeung added.
He said he had bought two of the 64 GB version, costing HK$8,588 ($1,100), one for himself and one for his wife. The 256 GB model costs HK$9,888.
Student Keith Li said all his friends were changing to the new phone and had set aside money for it. Li, 22, had traded in his old phone to help him meet the cost.
Inside the Hong Kong store, those still considering whether to buy were trying out facial recognition after concerns it may compromise the security of the phone.
Apple profits soared by a fifth as its flagship iPhone X hit stores in Asia Friday, with the company predicting bumper sales despite its eye-watering price tag.
Net profit rose 19 percent from a year ago to $10.7 billion in the fiscal fourth quarter to September 30, Apple said. Revenues were up 12 percent to $52.6 billion.
Release of the earnings figures pushed Apple shares up more than three percent to $173.20 and came as iPhone X models began hitting the market in some time zones.
The flagship handset features facial recognition, cordless charging and an edge-to-edge screen made of organic light-emitting diodes used in high-end televisions.
It marks the 10th anniversary of the first iPhone release and hits about 50 markets around the world Friday.
In Hong Kong, buyers who had pre-ordered the phone online queued to pick up their new purchases, saying they were willing to pay for what they saw as a landmark model.
“It’s the 10th anniversary phone-anyway, other phones like the Samsung are not much less,” said banker Tony Yeung, 35, as he queued outside the Apple store in Hong Kong’s Festival Walk mall.
“It’s convenient. You can unlock the phone just by holding it up to your face in bed after you wake up,” Yeung added.
He said he had bought two of the 64 GB version, costing HK$8,588 ($1,100), one for himself and one for his wife. The 256 GB model costs HK$9,888.
Student Keith Li said all his friends were changing to the new phone and had set aside money for it. Li, 22, had traded in his old phone to help him meet the cost.
Inside the Hong Kong store, those still considering whether to buy were trying out facial recognition after concerns it may compromise the security of the phone.
