Apple Inc., which announced in May it was ending its quarterly earnings period with a sales increase of over 100 percent, said on Wednesday it plans to close out the year with record sales for the fourth quarter.
The Apple website and Apple retail store, the largest retailing platform for the company’s iPhone, have already opened.
The announcement comes as Apple, which reported record-high quarterly revenue of $53.5 billion, is looking to raise billions of dollars in financing and invest in new products to increase its profit potential.
Apple Chief Executive Tim Cook has said the company is focused on getting customers the most value from their iPhone 7s and iPhone 7 Plus, and to provide customers with the best hardware and software for the best possible experiences.
In a statement, Apple said it is working to close its sales period with “record sales” but declined to provide further details on how the company plans to do that.
The company’s first-quarter profit, or revenue, for the first time was $2.5bn, down from $4.5b a year ago, according to the most recent SEC filing.
“We’re very excited about our second quarter,” Cook said.
Apple said the iPhone 7 sales increased by 42 percent over the same period last year, compared with the same time last year.
“Sales growth has been driven by a broad-based acceleration in iPhone sales, which grew by more than 70 percent in the quarter compared to the previous quarter, the highest growth in Apple history,” Apple said.
The iPhone 7 will be available for pre-order starting Tuesday.
Apple has also announced that it is building its first store in Singapore, which will be able to accommodate its larger iPhone customers and provide a wider selection of new products.