Apple sells more iPhones in China than US

On Monday, technology company Apple Inc beat revenue and profit forecasts of Wall Street. According to the company, for the first time, it has sold more iPhones in China than in the United States. Apple has not revealed anything about the sales of its Apple Watch.

The company headquartered in Cupertino, California, stated that its iPhone sales have soared in China, and its revenue in the world's most populous country increased more than 70% to $16.8 billion. According to reports, the company's iPhone sales were helped by gift-buying for Chinese New Year.

While confirming the news about selling more iPhones in China than the US, Tim Cook, chief executive officer of Apple, said, "China's expanding middle class is fueling iPhone sales there, which is the bulk of the company's sales. The iPhone 6 was launched last autumn in China with a number of carriers".

The company beat Wall Street's estimates, but its share reaction was muted. Apple shares rose just 1.6% in after-hours trading to about $134.52. According to the technology company, it sold more than 61 million iPhones in the quarter, up about 40% from same quarter a year earlier. Apple also revealed that in the quarter, it sold 12.6 million iPads, down 23% from last year.

According to the company, its newly released big screen iPhone 6 and 6 Plus have been popular with consumers worldwide. They have helped the company in overtaking rival companies like Samsung in global smartphone sales last quarter, Apple reported.

Apple did not reveal how its recently released Apple Watch performed in the global market, but the company said that the current quarter gave an exciting start to its newest product. According to Cook, demand for Apple watch continued to be greater than supply.