Cupertino Apple’s iPhone business is proving resilient to economic worries and logistics bottlenecks. Last year, the group was able to increase iPhone sales in an overall shrunken smartphone market. This, together with a growing service business, more than compensated for declines in other devices of the company.
Overall, Apple’s sales increased by two percent to around 83 billion dollars (81 billion euros) in the third fiscal quarter completed at the end of June. The bottom line, meanwhile, was a decline in profits of 10.6 percent to $ 19.44 billion, as Apple announced after the US stock market closed on Thursday.
Analysts had expected worse figures. The share temporarily rose by around three percent in after-hours trading.
iPhone sales grew from $39.6 billion a year earlier to just under $40.7 billion. According to calculations by the analysis company Canalys, Apple was able to expand its share of the overall smartphone market, which shrank by nine percent, last quarter thanks to good sales of the iPhone 13.