Tim Cook, the Apple chief executive, said that they would start shipping the Apple Watch starting April. David Paul Morris / Bloomberg
Tim Cook, the Apple chief executive, said that they would start shipping the Apple Watch starting April. David Paul Morris / Bloomberg

The only way is down for Tim Cook and record-breaking Apple



Apple on Tuesday said its fiscal first quarter net income rose 38 per cent to $18 billion - the largest quarterly profit ever reported by a US company.
Sales of the iPhone 6 and 6 Plus, grew 46 per cent to 74.5 million units in the period, topping analysts' average estimate of 64.9 million.
Sales were particularly robust in China, where revenue rose 70 per cent and where Apple will open 25 new stores in the country within two years. In the Americas, sales rose 23 per cent, while revenue from Europe increased 20 per cent.
The Cupertino, California-based company forecast the strong performance would continue, projecting revenue would rise by at least 14 per cent in the March quarter. Chief executive Tim Cook also said Apple would ship the Apple Watch - its first new gadget category since debuting the iPad in 2010 - starting in April.
But this has to represent some kind of watershed moment - like Aol's $164bn takeover of Time Warner in 2001 or Nokia's global smartphone market share peaking at 50 per cent in the first quarter of 2007 shortly after Steve Job's revealed the first iPhone. Whenever a company hits the heights there is nowhere else to go but down - particularly in the cut throat technology sector.
Nokia sold its handset division to Microsoft in 2013 after years of dwindling share and Jeff Bewkes, the current chairman and chief executive of Time Warner, has called the merger with AOL "the biggest mistake in corporate history".
This record profit from Apple may not signify an immediate reversal of fortunes but there are some clouds already on the horizon including the stronger dollar's impact on earnings outside the US - Apple's peers are already feeling the pinch.
Also the Chinese market is gaining in importance for Apple. In the final three months of last year the company shipped the most smartphones into the country ahead of local firms Xiaomi and Huawei and Korean rival Samsung. But as we have seen with the latter dominance in such a competitive and unique economy can be short-lived. Samsung was at one point last year the market leader before it began its slide.
Its results are expected on Thursday and may offer some insight into the future for Apple's shareholders.
* with Bloomberg
malrawi@thenational.ae
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The Old Slave and the Mastiff

Patrick Chamoiseau

Translated from the French and Creole by Linda Coverdale

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

COMPANY PROFILE

Name: Xpanceo

Started: 2018

Founders: Roman Axelrod, Valentyn Volkov

Based: Dubai, UAE

Industry: Smart contact lenses, augmented/virtual reality

Funding: $40 million

Investor: Opportunity Venture (Asia)

Where to donate in the UAE

The Emirates Charity Portal

You can donate to several registered charities through a “donation catalogue”. The use of the donation is quite specific, such as buying a fan for a poor family in Niger for Dh130.

The General Authority of Islamic Affairs & Endowments

The site has an e-donation service accepting debit card, credit card or e-Dirham, an electronic payment tool developed by the Ministry of Finance and First Abu Dhabi Bank.

Al Noor Special Needs Centre

You can donate online or order Smiles n’ Stuff products handcrafted by Al Noor students. The centre publishes a wish list of extras needed, starting at Dh500.

Beit Al Khair Society

Beit Al Khair Society has the motto “From – and to – the UAE,” with donations going towards the neediest in the country. Its website has a list of physical donation sites, but people can also contribute money by SMS, bank transfer and through the hotline 800-22554.

Dar Al Ber Society

Dar Al Ber Society, which has charity projects in 39 countries, accept cash payments, money transfers or SMS donations. Its donation hotline is 800-79.

Dubai Cares

Dubai Cares provides several options for individuals and companies to donate, including online, through banks, at retail outlets, via phone and by purchasing Dubai Cares branded merchandise. It is currently running a campaign called Bookings 2030, which allows people to help change the future of six underprivileged children and young people.

Emirates Airline Foundation

Those who travel on Emirates have undoubtedly seen the little donation envelopes in the seat pockets. But the foundation also accepts donations online and in the form of Skywards Miles. Donated miles are used to sponsor travel for doctors, surgeons, engineers and other professionals volunteering on humanitarian missions around the world.

Emirates Red Crescent

On the Emirates Red Crescent website you can choose between 35 different purposes for your donation, such as providing food for fasters, supporting debtors and contributing to a refugee women fund. It also has a list of bank accounts for each donation type.

Gulf for Good

Gulf for Good raises funds for partner charity projects through challenges, like climbing Kilimanjaro and cycling through Thailand. This year’s projects are in partnership with Street Child Nepal, Larchfield Kids, the Foundation for African Empowerment and SOS Children's Villages. Since 2001, the organisation has raised more than $3.5 million (Dh12.8m) in support of over 50 children’s charities.

Noor Dubai Foundation

Sheikh Mohammed bin Rashid Al Maktoum launched the Noor Dubai Foundation a decade ago with the aim of eliminating all forms of preventable blindness globally. You can donate Dh50 to support mobile eye camps by texting the word “Noor” to 4565 (Etisalat) or 4849 (du).

The Witcher - season three

Director: Various

Stars:
Henry Cavill, Freya Allan, Anya Chalotra

Rating:
3/5

The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat 

Ain Dubai in numbers

126: The length in metres of the legs supporting the structure

1 football pitch: The length of each permanent spoke is longer than a professional soccer pitch

16 A380 Airbuses: The equivalent weight of the wheel rim.

9,000 tonnes: The amount of steel used to construct the project.

5 tonnes: The weight of each permanent spoke that is holding the wheel rim in place

192: The amount of cable wires used to create the wheel. They measure a distance of 2,4000km in total, the equivalent of the distance between Dubai and Cairo.

The five pillars of Islam