Big tech has been having it good despite the coronavirus pandemic. Apple and Facebook have witnessed a surge in profits in recent times.
Apple sales pass $100 billion landmark
Apple has reached another milestone as individuals seem to be in love with these big tech products at the beginning of the year. Sales recorded from November 2020 through January 2021 have increased to about 22% as against 2019 prices.
These rewards are expected as different lockdown protocols have pushed most people online and buying more gadgets. Apple now accounts for more than 1.7 billion active gadgets worldwide with over a billion iPhone devices.
Apple’s new iPhone 12 model has enjoyed huge patronage which tech experts say many apple enthusiasts who could afford it switched to. Apple responded that sales growth in the Chinese market was immense as the COVID-19 pandemic loses its hold.
5G capability helping to boost Apple’s sale
The sales in Asia and particularly China are because of the demand for devices with 5G compatibility. Sales in Taiwan and Malaysia surge to 58%, Europe is 18% while 11% rise in Americas.
“ The apple products seem to be doing well on a global scale” Luca maestri, a financial expert with Apple opines.
Tech analyst Dan Ives says there are reports that Apple users are trading their old models for new ones with 4G and 5G capabilities. According to Apple’s chief, Apple’s record of more than a hundred billion dollars in sales in three months is impressive.
Aside from Apple, Facebook has also seen improvements in its revenues. While other sectors like hospitality and manufacturing have struggled to stay afloat, big-tech firms are making huge profits. The major reason why these big firms are making it big during this COVID-19 era is that more people spend time indoors as restrictions kick in several countries.
As these tech firms keep taking profits, politicians are asking for fairness in the manner they deal with rivals.