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Apple doubles profits thanks to iPhone sales

Apple has doubled profits since the start of the pandemic.

Boosted by iPhone sales, the tech giant's boss Tim Cook has claimed the results - with profit going from $11.3 billion to $23.6 billion for the first three months of 2020 and 2021 respectively - reflected "optimism" for the future.

The chief executive said: "This quarter reflects both the enduring ways our products have helped our users meet this moment in their own lives, as well as the optimism consumers seem to feel about better days ahead for all of us."

Social media site Facebook has also seen an increase in revenues and profits, and Google's parent company Alphabet has reported a record profit thanks to "elevated consumer activity online".

Meanwhile, Apple rival Samsung is celebrating its strongest first quarter profits since 2018 thanks to the Galaxy S21 line.

The net profits have risen from 46.3% compared to the first quarter in 2020, rising to £4.6 billion.

While TV and home appliance sales grew, the company's chip business results were disappointing.

In an earnings report, Samsung said: "Solid sales of smartphones and consumer electronics outweighed lower earnings from semiconductors and displays."

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