Apple enjoys record year but iPhone sales miss target

Technology giant Apple sold 48 million iPhones in the last three months, slightly lower than analysts expected, but the company still recorded a profit of $11.1 billion (£7.2bn) in its latest financial results.

Apple chief Tim Cook hails the tech giant's 'most successful year ever'. Picture: Stephen Lam/Getty

The firm saw revenue climb from $42.1bn this time last year to $51.1bn, with profit up by $2.6bn.

The 48 million iPhones sold includes early sales of the iPhone 6s and 6s Plus, which went on sale in September, but once again Apple Watch sales numbers were not disclosed.

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Chief executive Tim Cook said: “Fiscal 2015 was Apple’s most successful year ever, with revenue growing 28 per cent to nearly $234bn. This continued success is the result of our commitment to making the best, most innovative products on earth, and it’s a testament to the tremendous execution by our teams.

“We are heading into the holidays with our strongest product line-up yet, including iPhone 6s and iPhone 6s Plus, Apple Watch with an expanded line-up of cases and bands, the new iPad Pro and the all-new Apple TV which begins shipping this week.”

The importance of the Chinese market was also shown in the results, as it was the biggest market for Apple outside of the US, bringing in $12bn in revenue, a rise of 99 per cent in one year.

Sales of iPads continued to steadily decline, with Apple reporting 9.8 million units sold, down 20 per cent on this time last year.