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Apple: “Recession, really?”
Chris White
October 22, 2009 7:14 PM ET in Tech
Apparently we’re still in a recession, but you would never know it by looking at Apple’s fourth quarter results. Everyone’s favorite (ahem) tech giant from Cupertino announced on Monday that their fourth quarter was the most profitable in the firm’s history, primarily driven by record-breaking Mac and iPhone sales. Revenue hit $9.87 billion, up from $7.9 billion in 2008, and a quarterly profit of $1.67 billion, or a $530 million improvement over 4Q08.
In the context of the current economic climate, these numbers seem surprising. It is well-known that many of Apple’s products are priced significantly higher than similar offerings from other players, or even DIY PC builders. In a year where most are trying squeeze a little more out of their budget, it’s impressive that the demand for Apple products has been so strong.
On the other hand, Apple released several solid products this year, including: The iPhone 3GS, refreshed iPods, OS X 10.6 (”Snow Leopard”), and revisions of both their laptop and desktop offerings.
Apple continued to gain ground in their computer division to sell 3.05 million computers, up 17% from this time last year. Sales of the iPhone followed suit, rising 7% to a total of 7.4 million. On a sour note, iPod sales dropped 8% to 10.2 million units.
We’ve offered our share of criticism for Apple policies and products in the past, but what really matters is that consumers continue to find many of Apple’s products compelling enough to spend, despite the economy. Be it Apple or any other company, improved gadget and electronics sales in this market can only be considered a good thing.
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