Apple profit up 24% on iPhone 5 sales

Apple said its fourth-quarter profit jumped 24 per cent, largely because of a surge in sales of the iPhone, a product that now accounts for nearly half of the company’s sales. Apple sold 26.9 million iPhones, 58% more than a year earlier as revenue from the iPhone rose 56% to $17.13 billion. Quarterly revenue in China, Apple's second-largest market, rose 26 per cent, and jumped nearly 80 per cent to $23.8 billion over the full year, contributing 15 per cent of Apple's total revenue.