Apple has just announced its latest quarter results for the fiscal 2017 fourth quarter which ended on 30 September 2017. Overall, Apple is doing very well with more units sold across all product categories compared to the same period last year.
They have sold 10% more iPad and Macs year on year while services, which include app store purchases, iCloud and Apple Music subscription have increased by 34% in revenue. For other products which include their Apple TV and Apple Watch have also shown a revenue increase of 36%. Overall, they have posted a total revenue of $52.58 billion which marks a 12% increase year on year.
While most die-hard Apple customers are waiting for the iPhone X to be released this month, Apple has managed to increase its iPhone sales by 3% with a revenue increase of 2%. That pales in comparison to the iPad and Mac where they have shown double-digit growth. They have sold 46,677,000 iPhone units versus 45,513,000 units in Q4 FY2016.
Apple doesn’t share the breakdown of its iPhone models but it appears that Apple is likely selling more of its older iPhone 7 and iPhone 6s models which now carry a lower price tag. Interestingly, Tim Cook mentions that the iPhone 8 Plus has the fastest start of any Plus model.
Apple is also looking forward to the next quarter as they expect to see higher revenue between US$84-87 billion. In their previous Q1 FY2017 update, Apple had enjoyed a record quarter where they have sold more iPhones and generated more revenue than ever before. They had moved 78,290,000 units of iPhone which generated US$54.37 billion in revenue so they are expecting a surge in growth in their next update, especially with the year-end holiday season.
With the huge turnout for the iPhone X launch, it is clear that demand is strong and Apple is trying to get as many units as possible into the hands of consumers.
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