iPhone X hits Asia stores as profits soar

The flagship handset features facial recognition, cordless charging and edge-to-edge screen made of organic light-emitting diodes used in high-end televisions

Apple profits soared by a fifth as its flagship iPhone X hit stores in Asia on Friday, with the company predicting bumper sales despite its eye-watering price tag.

Net profit rose 19 per cent from a year ago to $10.7 billion in the fiscal fourth quarter to September 30, Apple said. Revenues were up 12 per cent to $52.6 billion.

Release of the earnings figures pushed Apple shares up more than 3 per cent to $173.20 and came as iPhone X models began hitting the market in some time zones.

The flagship handset features facial recognition, cordless charging and an edge-to-edge screen made