Apple announced profits of $13.6 billion on $58 billion in revenue for the last quarter. It sold 61.2 million smart phones in the quarter raising prices while competitors introduced lower priced products. Apples sales in China were up 71% in the quarter. China has replaced Europe as Apples second largest market. Its not very often that a firm captures control of a market by consistently introducing products that customers are willing to pay a premium to purchase.