Sci-tech

Apple confirms iPhone 12 release to be delayed until at least October

Apple confirms iPhone 12 release to be delayed until at least October”

"With the launch of the iPhone SE in April, Apple has released a long-desired product, with an attractive price", said Jusy Hong, director of smartphone research at Omdia. The renders of new designs of the iPhone 12 suggest that it has been borrowed heavily from the popular iPhone 4 model.

The delay to the iPhone 12 release was announced during Apple's latest earnings call, in which the company announced positive news for the third quarter this year.

The postponement of the new iPhone was mainly due to factory lockdowns and workplace absences during the pandemic.

"I think that would boost consumer confidence quite a bit", with consumer-oriented companies standing to benefit, he said. Analysts had been expecting around $52.3 billion in revenue and earnings per share of $2.07, but Apple crushed those predictions with $59.7 billion in revenue - up 11 percent from last year's third quarter - and EPS of $2.58, up 18 percent. That has likely only helped the already-high demand for computers and tablets as remote work continues on for so many people. Indeed, the Mac set a Q2 revenues record, while iPad saw its biggest quarterly revenues spike in 8 years.

The tech firm recorded net income of $11.25 billion or $2.58 per share during the three-month period, compared to $10.04 billion or $2.18 per share a year ago.

More news: Fraser Health confirms coronavirus case Dania Home in Burnaby

"The iPhone 11 has been our bestselling phone and has been No. 1 in urban China, and so we're very, very proud of that", Cook said. Then, more recently, there were several rumors that new iPhone 12 devices (which should have 5G compatibility) wouldn't hit stores until October.

Revenue from iPhone sales totaled $26.4 billion during the quarter, up 2% annually.

The leader of the maker of iPhones also gave existing investors an extra surprise; a four-for-one stock split that may entice a new crop of investors.

Following yesterday's strong earnings report, Apple's stock price has officially broken through the $400 mark in regular trading today, rising over 5% to sit at roughly $406.



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