Apple delivers strong iPhone sales amid declining global demand

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Apple Inc said it sold a record 10 million iPhones in the first weekend after its new, larger phone models went on sale in 10 countries on Friday.

JOHANNESBURG – Apple has delivered strong iPhone sales in its second quarter despite declining global demand.

Exceeding Wall Street expectations, at least 52,2 million phones were sold during the three months ending in March.

Revenue over the same period last year rose by almost 16 percent to $62,1-billion.

READ: Apple ends 18-month China iPhone sales slump

Suppliers around the world have been warning of smartphone weakness, raising concerns that the company may be too reliant on the iPhone.

Apple says it will buy back a $100-billion of its own shares from investors, which is set to boost the company’s share prices.