Apple's revenue rises 28% for fiscal 2015

On Tuesday Apple released their fourth quarter financial information, and the results were quite positive all around. In terms of revenue, the Cupertino-based company made $51.5 billion with a net profit of $11.1 billion. It is widely believed the latest iPhone release is responsible for the successful quarter, especially in China, as the iPhone is now seen as a luxury item of sorts in the country.

Along with the iPhone 6s coming out in September, the increased availability of the Apple Watch and high Mac sales also helped a lot. Apple also said that fiscal 2015 brought a 28% increase in revenue to $234 billion and a 31% increase in net profit. Some analysts were worried that Apple would see a decline in iPhone sales this year as so many purchased the previous iPhone last year. Apple believed otherwise, stating that two thirds of iPhone owners had yet to upgrade past the iPhone 5S or below.

Overall, Apple seems to have had quite a successful year. The growth in China is great for the company, and is a rare case in which a high price elevates the status of a product rather than turning customers away. As Apple moves into fiscal 2016, hopefully we will see them able to capitalize on the strong profits of this year.

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