Apple’s profit doubles on record holiday iPhone sales
Tech giant notches up 37m sales of the popular handset, twice as many as earlier festive season
Apple has seen record-breaking net profits during the last quarter of 2011, up 118 percent compared with the same period in 2010, reaching a massive $13.06bn. (All images courtesy of Getty images). The US technology giant, which sells a variety of products including MacBooks, iPads, iPhones and iPods, said it sold a whopping 37m iPhones during the last part of the year, more than twice as many pulled off stores during the festive reason a year earlier. Apple's latest technology release was the iPhone 4S, which led to snaking queues outside Apples global stores after selling out shortly after its release. The iPhone 4S was the last gadget made during the time of co-founder Steve Jobs, who died of cancer in October last year. China was among those countries which went crazy for the latest model, with customers lining up outside shops from the early morning. Some people in Beijing waited outside an Apple store all night prior to the mainland release of iPhone 4S. (Getty Images) The firm is expected to release its iPad 3 in March this year, and also rumoured to have an array of new products in the pipeline as it surges forward. Looking ahead, company executives said they expected a revenue of about $32.5bn in the second fiscal quarter and diluted earnings per share of about $8.50. Apple saw growth in sales of iPads and Mac computers, which rose 111 percent and 26 percent respectively compared with the latter three months of 2010. Sales of the iPod fell by 21 percent. Analysts said they expected this kind of growth from Apple, who was doing a fantastic job of helping to turn the market around from feature phones to smart phones. If anything, the results surged past analyst forecasts. Shares surged following the announcement.