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Apple NZ sees net loss of more than $3 million - report
Fri, 2nd Dec 2022
FYI, this story is more than a year old

Apple New Zealand has released its latest financial results for the period ended June 2022, seeing an ‘Other’ net loss of over $3.05 million compared to the previous September.

The previous financial report, which covered the 12-month period ended September 25, 2021, reported ‘Other’ net loss of $488,000, while the latest report covering the nine-month period ended June 30, 2022, shows a loss of $3,540,000.

The report notes that this is broken down into three categories: ‘Service fee income - related corporations’, ‘foreign exchange loss’ and ‘Other’.

Foreign exchange loss accounts for the biggest contributing factor to this decline, followed by service fee income from related corporations and ‘Other’.

In addition, the company also saw less revenue in this period, bringing in $1,011,223,000 by June 2022, compared to $1,170,501,000 the previous September, a decrease of $159,278,000.

Gross profit for the period also saw a slight decrease, with the company making $50,109,000 as of June, compared to $53,719,000 by September 2021.

However, Apple New Zealand’s cost of sales decreased as well, from $1,116,782,000 as of September 2021 to $961,114,000 in June this year.

The release of the latest financial results for its New Zealand branch comes after Apple introduced the new iPad in October.

The new offering comes with an all-screen design featuring a large 10.9-inch liquid retina display.

The new iPad is powered by the A14 Bionic chip, which delivers even faster performance with incredible power efficiency for demanding tasks while still providing all-day battery life.

Updated cameras include an ultra-wide 12MP front camera located along the landscape edge of the iPad for an even better video calling experience and an updated 12MP back camera to capture sharp, vivid photos and 4K video.

A USB-C port supports a wide range of accessories, Wi-Fi 6 brings even faster connections, and cellular models feature superfast 5G so users can stay connected on the go.

Designed specifically for the new iPad, the all-new Magic Keyboard Folio features an incredible typing experience, a click-anywhere trackpad, and a versatile two-piece design.

With iPadOS 16 and support for Apple Pencil (1st generation), the iPad offers users more ways to be creative and productive. The new iPad is available to order starting now, with online availability beginning October 27.

“We’re so excited to bring the completely redesigned iPad to our most advanced iPad lineup ever,” says Greg Joswiak, Senior Vice President of Worldwide Marketing, Apple.

“With a large 10.9-inch liquid retina display, powerful A14 Bionic chip, a first-ever landscape front camera, fast wireless connectivity, USB-C, and support for incredible accessories like the new Magic Keyboard Folio, the new iPad delivers more value, more versatility, and is simply more fun.”