SINGAPORE (Feb 12): Apple, the world’s most valuable company, released a “bittersweet” set of financial results on Feb 1, having sold fewer iPhones but made up for it with higher unit prices.

For 1QFY2018 ended Dec 30, 2017, Apple sold 77.3 million iPhones, down 1% y-o-y, which was below analysts’ projection of 80.2 million units.

Fortunately, it was offset by the higher price of the iPhone X — the company’s most expensive smartphone so far — resulting in what was still a record-breaking quarter of US$88.3 billion ($116.3 billion) in revenue and US$20.1 billion in net profit.

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