Apple Inc. quashed any concern of muted demand for its iPhone X on Friday, saying pre-orders for the 10th anniversary phone were “off the charts.”
The company’s shares, which have fallen steadily since it announced in early September it would launch two iPhones within two months, rose nearly 3 percent in response.
Pre-orders for the much-anticipated 10th anniversary phone started from 12:01 a.m. PT (0701 GMT) on Friday.
“We can see from the initial response, customer demand is off the charts,” an Apple spokeswoman told Reuters.
“We’re working hard to get this revolutionary new product into the hands of every customer who wants one, as quickly as possible.”
The company’s website showed delivery times pushed out to five to six weeks for the phone, compared to an initial plan of Nov. 3.
IPhone X’s launch follows weeks of concerns among analysts about the production of the new phone, which for the first time includes new facial identification software to replace the fingerprint used on previous phones.
Analysts have cautioned that production of the phone was below target, due to difficulties in producing the TrueDepth camera system, which houses sophisticated cameras and sensors making it possible to unlock the phone using Face ID.
Wireless carriers in the United States and Canada have reported slow third-quarter customer upgrades. While some expect a pickup after the iPhone X goes on sale in November, others cautioned that phone’s $999 price tag could weigh on demand.
Major promotions on the iPhone X from US carriers have yet to materialize, and in some cases, the offers have been even less generous than what was available for the iPhone 8, said Walter Piecyk, an analyst at BTIG in a research note on Thursday.
He noted that Sprint Corp’s iPhone X promotion of $350 in savings for trading in an eligible device was the most aggressive but still lower than what it offered for last year’s launch of the iPhone 7.
Shares of Apple were up 2.9 percent at $161.96 in morning trading in New York.
Apple says iPhone X pre-orders are “off the charts”
Apple says iPhone X pre-orders are “off the charts”
Al-Jouf Agricultural profit rises 8%, approves $2.8m dividend
RIYADH: Al-Jouf Agricultural Development Co. reported a 7.92 percent rise in 2025 net profit as revenue jumped 22 percent, while the Saudi agribusiness approved SR10.5 million in cash dividends for the second half.
The company posted net profit attributable to shareholders of SR81.26 million ($21.66 million) for the year ended Dec. 31, 2025, compared with SR75.30 million a year earlier, according to a filing on the Saudi Exchange.
JADCO is a Saudi agribusiness firm involved in the production, processing, and marketing of agricultural products, operating modern farms and processing facilities that support the Kingdom’s food security and sustainable agricultural development.
In a Tadawul release, the company stated: “The increase in net profit for the current year compared to the previous year is attributable to the rise in sales during the current year by SR129 million, driven by higher quantities sold from both the industrial and agricultural sectors, in addition to the increase in other income and the decrease in zakat expense.”
It added: “This comes despite the increase in selling and distribution expenses, general and administrative expenses, and financing costs.”
Revenue climbed 22.21 percent to SR712.22 million, driven by higher sales volumes in the industrial segment alongside increased production and sales of wheat and potato crops. Gross profit rose 16.37 percent to SR205.65 million, while operating profit increased 6.68 percent to SR90.43 million.
Separately, the company approved cash dividends totaling SR10.5 million for the second half of 2025, equivalent to 3.5 percent of the share’s par value, according to a Tadawul announcement.
The dividend will be distributed within 15 working days from the eligibility date of March 16, 2026, with payments transferred directly to shareholders’ investment accounts. Dividends paid to non-resident investors will be subject to a 5 percent withholding tax in line with Saudi income tax regulations.
