Tim Cook gets a pay raise amid better iPhone profits

Apple's CEO saw a 46 percent increase in total income and was told to fly private for security reasons.

Apple gave its CEO a salary bump as sales and profit picked up this year.

Tim Cook received a total of $12.8 million, an increase of 46 percent from last year when earnings fell, according to a regulatory filing on Wednesday. Adding $89.2 million in equity award, Cook brought home a whopping $102 million in 2017, minus compensations.

The news comes as Apple brought home almost 60 percent of profits generated in the global smartphone segment in the last quarter, according to Counterpoint Research, although sales were mainly boosted by an increased popularity of its older iPhone models. With that said, Apple does make $151 more than Samsung, the next top performer, for every unit sold. It could have made even more this quarter given it coincides with the launch of Apple's anniversary phone, coupled with increased sales this holiday season -- analysts said six million iPhone Xs were sold over Black Friday.

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Source: CENT