Apple and Samsung post latest financial results

Apple shipped 61.2m iPhones in Q2
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Tech rivals Apple and Samsung have revealed their most recent financial reports – how did they compare?

Apple

Apple announced its financial results for its fiscal 2015 second quarter, which ended March 28th 2015.

The tech giant posted quarterly revenue of $58 billion and quarterly net profit of $13.6 billion.

This success can be attributed to the iPhone, which shipped 61.2 million units in Apple’s Q2 – its second biggest quarter for iPhone sales. In Q4 2014, the company sold a record 74.5 million iPhones.

Apple also sold 12.6 million iPads and 4.6 million Macs during the period.

Tim Cook, CEO of Apple, said: “We are thrilled by the continued strength of iPhone, Mac and the App Store, which drove our best March quarter results ever.

“We’re seeing a higher rate of people switching to iPhone than we’ve experienced in previous cycles, and we’re off to an exciting start to the June quarter with the launch of Apple Watch.

Samsung

Samsung’s first quarter net income fell by 39 per cent, as its income from January to March was 4.63 trillion South Korean Won, compared with 7.49 trillion Won one year earlier, reports Yahoo/AP.

Sales also dropped by 12 per cent year-on-year to 47.12 trillion won, while the company’s operating income dropped by 30 per cent to 5.98 trillion won.

This drop in net profit was due to a fall in profits in Samsung’s mobile business. Samsung revealed that its mobile division generated 2.74 trillion won in quarterly profit, compared with 6.43 trillion won a year earlier.

The company has also said that its overall earnings will increase during the second quarter, as its line of Galaxy devices will help drive sales.

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