Apple iPhones fuel record profit

Company's revenue tops $100 billion in quarter for first time, profit soars 86%

- TRIPP MICKLE

After several years of slow sales, Apple turned to a years-old strategy to boost its business by raising prices on the iPhone.

On Thursday, the tech giant reported that increasing prices by $100 (about 3,200 baht) in September on some of its most popular iPhones paid off with record quarterly revenue and profit.

The higher prices helped Apple rake in more money during a period when analysts estimated that the company sold about 1 million more iPhones than a year ago.

Total revenue rose 8% to $102.5 billion from a year earlier, the first time the company has made more than $100 billion during the three months that ended in September. Profit rose 86% to $27.5 billion, after its net income was hit a year ago by a tax payment.

In September, Apple gave customers a reason to buy its newest iPhones by changing their external design. It unveiled a thinner and smaller model called the iPhone Air and overhauled the iPhone Pro to feature a raised bump across its back.

The changes helped drive iPhone sales to $49 billion in the quarter, up 6% from last year.