What Do Smartphones Bring to the Table in 2021?

What Do Smartphones Bring to the Table in 2021?

The iPhone 12, along with Samsung Galaxy S21 Ultra and the Huawei Mate 40 Pro, have helped drive consumer demand. The spread of the pandemic has allowed people to spend more hours than usual on their phones, helping to digitize the global economy. While the worldwide demand for semiconductors is creating some bottlenecks, profits related to phones have surged. The iPhone was the driving force behind Apple's better-than-expected revenue and earnings. Looking forward, the demand for smartphones should continue in 2021, as 5G technology gains traction.

How Did Apple Perform?

Sales of Apple's iPhone 12, its new 5G model, led to its most considerable revenue and profit ever reported by the company. Apple said that Q1 earnings increased by more than 17% year over year, driven by iPhone 12 sales. During fiscal Q1, the Apple iPhone 12 went on sale and several other similar phones, including the iPhone 12 Pro, the iPhone 12 mini, and the iPhone 12 Max.

Apple reported profits of $28.8 billion, up about 30% year over year.  Earnings per share came in at $1.68 on $111.4 billion in overall revenue. Sales increased by 21% from the $91.8