Apple Now Has $200 Billion Cash, Thanks to iPhone sales and China

Thanks to its most sought after product iPhone, Apple Inc. has now cash reserves of almost $203 billion in its Money Bin.

Apple recorded phenomenal growth in its profit by 38%, due to the extensive sales of iPhones in China. China has never been the biggest market for the US tech developers. Apple’s iPhones seem to be breaking the jinx. Amidst all the speculations about the growth in smartphone industries getting slowed down, Apple’s Chief Executive Tim Cook refuses to believe that Apple and its product sales have reached the ceiling.

Apple has managed to convince the users to switch from Android based smartphones to their iOS. Apple has other products like Apple Watch and iPads that are doing good business too. Apple Watch was one of the most sought after accessory by the customers and the recent survey showed that 97% of Apple Watch users are more than satisfied.

The demand for iPhone 6 and iPhone 6 Plus doubled in China. The iPhone sales in greater China (includes China, Hong Kong, and Taiwan) rose 87% as compared to a growth of 5% in the world market.

Apple has left its competitors like Microsoft and Google far behind in amassing the cash and reserves for the fiscal. As new brands surge into the smartphone market with target features as Turing’s cipher phone that claims to be unhackable and unbreakable or Marshall’s Rockstar smartphone, Apple’s expanding iPhone sales are commendable.

Apple’s growth can be attributed to the fact that with every new product of their they bring new innovations and make their device classy. Also, the ease of flow of information between all the Apple devices ( Mac, iPhone, iPad) affects customers choice. The extended warranty, FaceTime and the fact that Apple products are more resistant to bugs and malware as compared to other devices play an important role in increasing the company’s iPhone sales.

In the sea of smartphones, you can also see the iPhones’ superiority as unlike other smartphones, iPhones get you better deals when you resell them.

Source: WSJ

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