Hong Kong — Apple profits soared by almost 20% as its flagship iPhone X hit stores in Asia on Friday, with the company predicting bumper sales despite its eye-watering price tag. Net profit rose 19% from a year ago to $10.7bn in the fiscal fourth quarter to September 30, Apple said. Revenues were up 12% to $52.6bn. Release of the earnings figures pushed Apple shares up more than 3% to $173.20 and came as iPhone X models began hitting the market in some time zones. The flagship handset features facial recognition, cordless charging and an edge-to-edge screen made of organic light-emitting diodes used in high-end televisions. It marks the 10th anniversary of the first iPhone release and hits about 50 markets around the world Friday. In Hong Kong, buyers who had pre-ordered the phone online queued to pick up their new purchases, saying they were willing to pay for what they saw as a landmark model. "It’s the 10th anniversary phone — anyway, other phones like the Samsung are not much le...
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