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Apple regain sales after holiday sales of iPhone 7

Apple regain sales after holiday sales of iPhone 7
The Holiday sales of Apple's iPhone 7 helped the tech company end three consecutive quarters of decline and deliver record revenue, the company announced on Tuesday.

Recently Apple has struggled as iPhone sales have slipped in the face of fierce competition. The iPhone accounts for two-thirds of Apple's sales and Applesaid sales of the new model helped lift total iPhone shipments 5% to a record 78.3m for the three months ending 31 December.

But the iPhone 7 still failed to attract the long lines and double-digit increase in sales that earlier models enjoyed in their first full quarter on the market.

Sales helped boost Apple's revenue 3% to $78.4bn, ahead of analysts' forecasts. Profit for the quarter fell 2.6% to $17.9bn, or $3.38 a share. Apple ended the quarter with $246.1bn in cash. The company's share price jumped close to 3% in after hours trading.

The latest report comes after a bad year for Apple. Last October the company reported its first decline in annual salesand profit in 15 years as iPhone sales dipped 5%.

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