Apple’s sales in New Zealand seems to be doing very well, with overall sales going up for the period ending the 26th of September, 2020.

Sales for the company’s subsidiary in New Zealand reported sales worth $965.5 million for the period, up from $838.2m registered in 2019.

But the company also recorded a rise in the cost of sales, from $800.6m to about $925.1m. Even then, the company’s sales in NZ generated profits worth $23.4m, up from the previous figure of $21.6m.

Apple also paid about $8m in taxes, up from $8.3m, for this period. There was no indication, in the firm’s financial statement, of the kind of issues that have dogged company like Microsoft, Cisco and Oracle in the country over the past few years.

Around the world, the firm has benefited significantly from the pandemic, despite its stores remining closed during the period, as its businesses and users updated their Apple devices and other associated technologies, in support of the emerging shift to working remotely.

Overall, the firm posted sales worth $274.5bn last year, a rise of 5.5 percent over sales registered in 2019.

However, the local subsidiary out performed the parent firm in overall growth, registering a revenue rise of more than 15 percent. Over the year, the company planned a great launch of iPhone SE last April, although it was forced to postpone the launch of iPhone 12.

Last August, the firm reached US$2 trillion in valuation, making the firm the first U.S firm to be worth this much.

Source: https://www.reseller.co.nz/article/685793/apple-new-zealand-sales-surge-towards-1-billion/

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