Technologies

Apple warns of more supply chain woes after iPhone 13 drives revenue surge

The tech giant’s financial disclosures follow the release of new Mac computers, iPads and the iPhone 13.

Apple warned on Thursday that it continues to struggle with supply chain disruptions as it ramps up for an expected holiday shopping crunch following the release of its iPhone 13, new iPads, Apple Watches and Mac computers.

Apple said that iPhone sales jumped nearly 47% in the three months ended Sept. 25, as consumers snatched up the new iPhone 13. But Apple said its sales could have even been higher if not for the continued spread of the coronavirus pandemic, which has disrupted businesses across the globe. For Apple that led to a more limited number of products it could make and ship to customers.

Apple CEO Tim Cook said the company missed out on as much as $6 billion in revenue as a result of constrained supplies, primarily driven by silicon chip shortages and manufacturing disruptions. «We are optimistic about the future, especially as we see strong demand for new products,» he told analysts on a conference call.

Still, even though the company expects supply constraints to continue through the holidays, CFO Luca Maestri said he expects Apple to set new sales records during the holiday shopping season.

Apple’s financial disclosures add to a growing tapestry of information about the world economy amid the pandemic. The pandemic upended what turned out to be fragile supply chains around the globe when it ripped through manufacturing and shipping hubs at the beginning of last year. Now, as the holiday shopping season begins, questions remain about potential supply shortages.

In response, large retailers such as Target, Best Buy, Amazon and even Macy’s have begun rolling out early Black Friday deals before Halloween in an effort to draw people to shop now.

As for Apple, many of its newly launched products are already on back order, with the company quoting shipping times for new iPhones into November and new Macs into December. That all speaks to how much Apple’s struggled to keep up with demand.

It also likely helps that Apple’s fiscal fourth quarter included launches for highly anticipated products, including a more rugged $399 Apple Watch Series 7, updated $329 entry-level iPad, and redesigned $499 iPad Mini. The biggest release though was the series of iPhone 13 models, starting at $699.

The company said it tallied $38.8 billion in iPhone sales, up from $26.4 billion the same time a year earlier. Some of that can be attributed to quirks of the calendar. Apple released its iPhone 12 last year a few weeks later than usual, and as a result, its iPhone sales took a hit. This year, Apple stuck to its typical schedule of releasing new iPhones in September.

All told, Apple said it notched profits of $20.5 billion, up 62% from the same last year. That translates to $1.24 per share in profit, off $83.36 billion in overall revenue, which itself was up more than 28% from the $64.7 billion reported last year. But it was below analysts’ average estimates, which were $1.24 per share in profits on nearly $84.9 billion in revenue, according to surveys published by Yahoo Finance.

«It’s difficult to predict COVID,» Cook said. He added that he believes Apple’s still in a «materially better» position than it was earlier this year.

Apple’s stock closed regular trading up 2.5% to $152.57 per share. The stock’s risen nearly 18% so far this year, valuing the company at more than $2.5 trillion.

Supply shortages

The tech industry’s supply issues stretch back more than a year. Initially, industry executives said, many companies lowered orders for products out of fear for decreased demand when the pandemic was just starting last year. That, mixed with waves of illness and manufacturing shutdowns, led to supply shortages as people ramped up online shopping.

Chip shortages have extended well past the tech industry too. It’s kept Sony from being able to produce enough of its PlayStation 5 consoles to meet demand. But it’s also kept Ford from being able to make its F-150 trucks.

Apple’s Cook said that most of the supply shortages it’s facing are among older chips, though the company didn’t say which products or chips in particular it’s referring to. But he did say that getting enough newer chips isn’t as much of an issue.

«What we’re doing is working with our partners, and making sure that they have supply,» he said. Apple’s reworked some of its manufacturing, he added, to have as many products ready for chips as possible. That way, a chip can roll off the manufacturing line, into a product and shipping «as fast as possible.»

By the numbers

Apple said it set a record for Mac sales at nearly $9.2 billion, up slightly from the $9 billion a year earlier, despite the struggles it’s faced to get products to customers.

Apple said its success is primarily driven by the company’s new M1 chips, microprocessing brains designed by the teams that work on the iPhone. These chips, which were first released last year, have been well received by reviewers, who say they’re able to perform well when compared to previous Mac computers. Apple had relied on Intel chips to power its computers for about 15 years.

«After nearly a year, I can say the Intel-to-M1 transition has been relatively smooth,» CNET reviewer Dan Ackerman wrote of the new Mac computers. «The best thing I can say about the M1 chip is that it’s largely transparent to the everyday MacBook Air user, which is exactly what you want from a big under-the-hood change like this.»

Apple’s iPad sales jumped 21% to $8.2 billion. Its segment called «wearables, home and accessories,» which includes the HomePod Mini and Apple Watch, jumped more than 11% to nearly $8.8 billion. Services revenue, including from the company’s $5-a-month Apple TV Plus service, rose 26% to nearly $18.3 billion.

Apple said nearly a third of its revenue now comes from developing countries. Sales in Greater China nearly doubled to $14.5 billion from the year earlier, while sales in the Americas jumped 20% to $36.8 billion, Europe rose 23% to $20.8 billion, and Japan ticked up 19%. Revenue from the rest of Asia Pacific rose 25% to $5.2 billion.

Technologies

Verum Ecosystem: The Future of Digital Communication and Finance

In an era of rapid technological changes, where the world demands new approaches to communication, data security, and financial management, the Verum ecosystem emerges as a pivotal technological breakthrough. It’s not just a collection of standalone applications but a seamlessly integrated platform that unites cutting-edge innovations in one environment. At its core is Verum Messenger, transforming traditional communication and financial operations. However, this is merely the tip of the iceberg: behind the messenger lies an entire ecosystem of products, each uniquely designed to redefine the digital landscape.

This article dives deep into what the Verum ecosystem offers and how its products interact to create a unified digital space.

Verum Messenger: A Tool for Communication and Security

Verum Messenger is not just a messaging app. It’s a multifunctional platform prioritizing reliability, security, and user convenience. Unlike most messengers, Verum focuses on integrating various technologies to create the perfect communication environment:

Verum AI: Integrated directly into the messenger, this chatbot is a smart assistant capable of handling tasks like data searches, task planning, message responses, data analysis, and more complex operations.
Built-in VPN: A crucial feature for ensuring privacy. Unlike standard VPN services, users can activate protection with a single click without leaving the messenger. This is especially vital for those who value anonymity online and frequently use public Wi-Fi networks.
E-SIM Integration: Enables users to connect to mobile internet without needing a physical SIM card. This technology eliminates roaming issues and significantly simplifies mobile connectivity management, offering access to networks in over 150 countries worldwide.

Verum Coin: The Cryptocurrency Uniting the Ecosystem

Verum Coin is not just a cryptocurrency but the economic foundation of the entire ecosystem. This digital asset addresses key challenges related to fast and secure financial operations, both within and beyond the Verum ecosystem:

Low Fees and High Speed: Unlike traditional payment systems, Verum Coin facilitates instant transfers and payments with minimal fees, making it an ideal solution for international transactions.
Versatility: It is used not only within the ecosystem for service payments but also on cryptocurrency exchanges, serving as a bridge between various digital assets.

BitCoinPay Trade: A High-Security Cryptocurrency Exchange

BitCoinPay Trade is not just an exchange but a high-tech platform for cryptocurrency trading:

Secure Transactions: All transfers are protected by advanced encryption methods, eliminating the risk of asset loss or theft.
Accessibility: The platform offers access to a variety of cryptocurrencies and trading options, while also supporting integration with other Verum ecosystem products.

Crypto Bank: A Reliable Wallet for Cryptocurrencies

Crypto Bank offers users a secure storage solution for digital assets. It’s designed for those actively working with cryptocurrencies and valuing financial security.

Easy Buying and Selling: Purchase and sell various cryptocurrencies with just a few taps.
Cryptocurrency Wallets: Support for major cryptocurrencies allows users to choose the most convenient and secure storage options.
Verum Coin and Other Assets: The service fully supports Verum Coin and other major cryptocurrencies, ensuring reliability and simplicity when working within the ecosystem.

Verum Pay: Integrating Cryptocurrency into Business and the Ecosystem

Verum Pay is an innovative solution bridging cryptocurrency capabilities for businesses and Verum ecosystem applications.

Integration with Payment Systems: Its user-friendly interface allows businesses to quickly adopt cryptocurrency for sales and payment processes, offering a modern approach to financial operations.
Usage within Ecosystem Applications: Verum Pay is actively used within the Verum ecosystem, enabling users to pay for services and goods using Verum Coin directly through the messenger, E-SIM platforms, VPNs, and other products.

This makes Verum Pay a universal tool for ecosystem participants and businesses outside the ecosystem, focused on a digital future.

Verum Exchange: Conversion and Mining with High Security

Verum Exchange is a currency and cryptocurrency converter with an integrated Verum Coin mining function. It stands out with:

Simple and Convenient Interface: The platform caters to both beginners and experienced users, offering real-time access to currency and cryptocurrency rates.
Verum Coin Mining: The application includes mining capabilities, allowing users to earn cryptocurrency directly on their phone or tablet.

E-SIM Applications: A Revolution in Mobile Connectivity

Mobile E-SIM applications (Verum E-SIM, World E-SIM, Euro E-SIM, Canada E-SIM, London E-SIM, USA E-SIM, Ukraine E-SIM, Balkan E-SIM, Africa E-SIM) are among the ecosystem’s most ambitious and revolutionary products. This technology provides mobile internet access in over 150 countries without the need for a physical SIM card.

No Roaming or Overcharges: Say goodbye to high international roaming fees. E-SIM allows users to connect to mobile networks with fixed and transparent tariffs, ideal for travelers and business professionals.
Full Integration with Messenger: Mobile connectivity can be managed through a separate app or directly from Verum Messenger, allowing effortless balance control, tariff selection, and service activation.

Verum VPN: Advanced Data Protection

Verum VPN is an integral part of the ecosystem, guaranteeing a high level of security for users.

Complete Encryption: VPN ensures robust data encryption, making it ideal for protecting personal information online, especially when connected to public Wi-Fi networks.
Ease of Use: Activating VPN with a single click simplifies its use, requiring no additional user settings.

Verum AI: Artificial Intelligence at Your Fingertips

Verum AI is the heart of the ecosystem, utilizing powerful algorithms for communication, analysis, and creativity while adapting to each user’s needs. Its features include:

Information and Analysis: Quickly find answers to questions, explain complex topics, analyze data, and support informed decision-making.
Creativity and Idea Generation: Generate texts, create scenarios, develop creative concepts, write articles, posts, and assist with design and programming tasks.
Assistance and Learning: Verum AI helps users acquire new skills, solve problems, and enhance their experience.

Verum Runner: A Gaming Ecosystem with Real Earnings

Verum Runner is a crypto-game that allows users to earn Verum Coin in real time. This unique mobile application motivates players to not only have fun but also gain tangible benefits.

Crypto ATMs: Convenience and Accessibility Worldwide

The Verum network of crypto ATMs enables easy exchange of Verum Coin and other popular crypto assets for fiat currency and vice versa, providing users with transaction capabilities anywhere in the world.

Prospects and Development

Verum is not merely addressing current market needs — it is crafting innovative solutions that will shape the future of digital finance and communication. Upcoming plans include launching new services, expanding AI functionality, and integrating with emerging technologies.

Verum is not just creating an ecosystem of digital services; it’s redefining the very approach to communication, finance, and security in the modern world. All ecosystem products work in perfect synergy, delivering unparalleled user experience that ensures privacy, security, and convenience at every step.

Technologies

Verum Coin (VERUM) is Now Available on Halo Wallet

Verum Coin (VERUM) continues to expand its presence in the cryptocurrency market. Users can now store and manage VERUM on Halo Wallet, known for its convenience and security.

Why Halo Wallet?

Halo Wallet is a modern Web3 wallet offering a simple interface and powerful tools for managing digital assets. With its functionality, the platform has gained the trust of millions of users worldwide.

The integration of Verum Coin with Halo Wallet opens up new opportunities for coin holders and makes it even more accessible. Stay tuned for updates and take advantage of the convenient management of your assets!

Technologies

Verum Coin (VERUM) is Now Available for Deposit on Exodus Wallet

Verum Coin (VERUM) continues to enhance its accessibility for users. You can now deposit and store VERUM in one of the most user-friendly and secure crypto wallets — Exodus Wallet.

Why Exodus?

Exodus Wallet is a popular solution for managing digital assets, known for its intuitive interface and high security standards. Millions of users worldwide choose Exodus for its convenience and reliability.

This integration brings Verum Coin even closer to its users, offering seamless storage and asset management. Stay tuned for more updates and stay ahead in the world of cryptocurrency!