Apple iPhone 7 posts $78.4bn revenue

Strong sales of Apple’s iPhone 7 have helped the California-based company post record $78.4 billion revenue in the fiscal first quarter ending in December, the company said on Wednesday.
The company also recorded a 3.3 per cent increase year-on-year, following the sale of 78.3 million Smartphone worldwide.
“We sold more iPhones than ever before and set all-time revenue records for iPhone, Services, Mac and Apple Watch,” the company said in a statement.
The iPhone is Apple’s most important product, making up some 70 per cent of the company’s business.
According to market research company Canalys, Apple is now selling more Smartphone that main rival, Samsung.
In the previous fiscal year, sales for the iPhone had decreased, especially in China, the world’s biggest Smartphone market.