Apple UK sales bounce back to record £1.5bn after Covid downturn

Apple has expanded its physical presence in the UK by opening new stores in London. Photo: Carl Court/Getty Images Europe

Apple UK sales bounce back to record £1.5bn on strong demand for top-end iPhones.

UK Retail, which includes UK convenience stores, reported 61 percent revenue growth in the 12 months ended September 2022

The rise is indicative of a sharp recovery from falling sales during the pandemic. Revenue fell from £1.4bn in 2019 to £971m by 2021.

However, Apple weathered the wave of consumer spending that followed the end of the lockdown as interest rates remained low for a period, and people spent the accumulated funds. pandemic savings.

The California-based company has seen strong demand for its most expensive iPhone, the «Pro» line, which has boosted the company's revenue and bottom line despite the cost-of-living crisis. Apple customers tend to have higher-than-average incomes, making them more immune to the impact of price increases.

The addition of 5G connectivity to Apple's entire iPhone lineup in 2020 also helped drive sales. According to analysts, the iPhone has become the top seller of 5G phones.

The jump in UK sales does not include the latest iPhone 14, released last September. Credit: Jeenah Moon/Bloomberg

The iPhone maker recently expanded its physical footprint in the UK with the opening of a new store on Brompton Road in London.

The UK sales surge does not account for sales of the latest iPhone 14, which was just launched last September.

An American tech company has raised the price of its British phone amid soaring inflation. Its flagship iPhone 14 Pro starts at £1,099 in the UK, £150 more than the previous year's iPhone 13 Pro.

In the UK Retail, UK Services business and Apple Europe, his Great Britain. — headquartered in Europe — business revenue was £3.1bn per annum through September 2022 and operating income was £756m. The company paid £115.9m in corporation tax, a slight increase.

Apple Europe, which provides services and marketing in the region, is reported to have paid a £544m dividend to its parent company .< /p>

The $3 trillion global tech giant reported $394 billion (£301 billion) in sales in 2022 and nearly $100 billion in profit.