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Apple Reports Record iPhone Sales, Tesla Shifts Focus to AI
Apple reported record iPhone sales for the final three months of last year, driven by the new iPhone 17 range, the company announced Thursday. Revenue rose by 16% compared to the same period last year, reaching £144 billion, marking the strongest growth since 2021, according to Apple. Meanwhile, Tesla announced a shift in focus towards artificial intelligence (AI) and robotics, leading to a decline in annual revenue for the first time.
The iPhone's sales boost was attributed to increased demand in China, Europe, the Americas, and Japan, putting the firm in "supply chase mode," according to Apple CEO Tim Cook. However, other areas of Apple's business experienced setbacks. Sales of wearables and accessories, including the Apple Watch and AirPods, fell by roughly 3%, while Mac computer sales decreased by just over 7%.
Tesla reported a 3% decrease in total revenues in 2025, with profits falling 61% in the last three months of the year. The electric vehicle (EV) maker also announced plans to discontinue production of its Model S and Model X vehicles. The California manufacturing plant previously used for these models will be repurposed to produce Tesla's humanoid robots, known as Optimus. In January, BYD, a Chinese company, surpassed Tesla as the world's largest EV maker.
In other news, Waymo, the US driverless car firm owned by Google-parent Alphabet, announced plans to launch a robotaxi service in London as early as September. A pilot service is scheduled to launch in April. Local Transport Minister Lilian Greenwood stated that the government is supporting Waymo and other operators through passenger pilots and "pro-innovation regulations to make self-driving cars a reality on British roads." The UK government intends to amend regulations in the second half of 2026 to facilitate the operation of driverless taxis in the city.
Meanwhile, millions of low-income households will continue to receive £150 off their winter energy bills for another five years, the government confirmed. The Warm Home Discount scheme, which has been in place since 2011, will be extended until the winter of 2030-31. Ministers said the extension would help with the ongoing high cost of living. Charities generally welcomed the continuation of the scheme, although some argued that £150 was insufficient to adequately support struggling households.
In a separate development, Early Days, the firm behind the baby shoes worn by Prince George, Princess Charlotte, and Prince Louis, warned of a potential closure. Owner Paul Bolton stated that the Leicester factory producing Early Days and Baypod shoes is likely to shut down due to a slump in customer demand and a sharp rise in business costs. Despite a surge in sales following the royal endorsements, the 73-year-old business is "on the brink of collapse," according to Bolton, who runs the family business with his brother.
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