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Jobs: We Sold More Phones than RIM

Jobs: We Sold More Phones than RIM

by , 5:15 PM EDT, October 21st, 2008

Apple's iPhone 3G appears to be selling well -- so well, in fact, that the company claimed it sold more phones during the past quarter than its competitor Research In Motion. The news came during Apple's fourth quarter earnings report on Tuesday afternoon.

"Apple just reported one of the best quarters in its history, with a spectacular performance by the iPhone -- we sold more phones than RIM," said Apple CEO Steve Jobs.

The Cupertino-based company reported selling 6.9 million iPhones for the quarter, outperforming RIM's 6.1 million units. The company also ranked as the third largest phone seller by revenue for the quarter.

Apple reported US$7.9 billion in revenue for the quarter, with a net profit of $1.14 billion. Gross margins were up for the quarter at 34.7 percent, compared to 33.6 percent for the same quarter last year.

The iPhone 3G went on sale in over 20 countries on July 26, and Apple has continued to add new markets since the initial roll out. The company plans to sell the iPhone 3G in some 70 countries by the end of the year.

Apple is currently trading after hours at $90.00, down 1.49 (1.63%).

If you are interested in Apple's stock, join our forum members in the Apple Finance Boards, a moderated forum for Apple Investors and people who are interested in Apple's financial dealings. For other stories regarding Apple's stock activity, visit our updated Apple Stock Watch Special Report.

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