Mobile devices propel Apple to record growth and profits

Mobile has become the absolute fabric of Apple Inc. (AAPL). The business has changed so dramatically thanks to the iPhone (and increasingly the iPad) that it barely resembles itself from even four years ago.

During the just closed quarter, Apple sold 20.34 million iPhones and 9.25 million iPads. It has sold a cumulative 222 million iOS devices to date. The company now sells twice as many iPads as Macs. It’s an astonishing shift, considering the first Mac was introduced 27 years ago and the iPad’s been out for 15 months. Even the K-12 education market is buying more iPads than Macs.

But for Apple, nothing comes close to the iPhone.

iPhone sales alone accounted for $13.3 billion, or half of the company’s record $28.57 billion in revenue during the quarter and iPad sales generated $6 billion in revenue. Year over year, iPhone sales are up 142% and iPad sales are up 183%.

That dramatic growth rate propelled Apple to $7.31 billion in profits. The company’s net income is growing faster than revenue.

The iPhone is now available on 225 carriers in more than 100 countries. Apple added 42 new carriers and 15 new countries in the last quarter. To date, it has paid $2.5 billion to developers and served more than 15 billion app downloads on the App Store.

And finally, Apple hinted at a new product (technically a “future product transition”) slated for release in the coming months, but declined to elaborate. Cue the gossipmongers.

Source: http://siliconvalley.rcrwireless.com/20110...