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Apple’s record iPhone 12 sales reveal why it dominates the smartphone world

It seems like getting a late start to iPhone 12 sales didn’t hurt Apple during the holiday season. Announcing its earnings for the December 2020 quarter Wednesday (Jan. 27), Apple reported record sales of $111.4 billion, a 21% increase over the previous year and well ahead of Wall Street expectations.

All of the products in Apple’s lineup contributed to that performance — the company reported double-digit growth in all its segments. But the real standout was Apple’s phone sales, fueled by the release of four new iPhone 12 models during the quarter.

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