Apple's profits double after surge in iPhone sales during pandemic

According to details, the sales of Apple products have almost doubled during the coronavirus pandemic, as people spent more time working, shopping and seeking entertainment online.

The company reported that it has seen an upward trend in the sale of phones, Mac computers, iPads, apps and other devices as people resorted to more options while working and studying from home. Several fitness and music apps also saw a hit during lockdown.

Apple sales in China, from where the coronavirus emerged initially, also doubled resulting in a massive jump in overall revenues for the first three months of this year of $89.6bn (£64.2bn), more than 50% up compared to a year earlier. Profit was $23.6bn, up from $11.3bn for the same period last year.

"This quarter reflects both the enduring ways our products have helped our users meet this moment in their own lives, as well as the optimism consumers seem to feel about better days ahead for all of us. The sheer scale of Apple's sales is testament to the grip that shiny embossed piece of fruit has on global consumers," she added.

Moreover, the rival firm Facebook has also reported increase in revenues and profits but has warned that the Apple's latest software release could undermine its prospects later in the year.

The time spent by consumers at home, and the spending power that shifted online, translated into revenues of $26.17bn, outpacing analysts predictions. Profit was also higher than expected at $9.5bn.

It's not just Apple and Facebook who have reported remarkable profits this week. The profits of Google and Microsoft also went up astonishingly during the pandemic.