Even though Apple made less money from its iPhone range late last year, the tech behemoth still had reason to cheer after announcing its latest financial results.
Based on the company’s recent quarterly update through December 2024, iPhone sales were slightly down compared to the same period in 2023. Regardless, CEO Tim Cook boasted Apple’s “best quarter ever,” thanks to US$124.3 billion in revenue.
“We were thrilled to bring customers our best-ever lineup of products and services during the holiday season,” Cook said. “Through the power of Apple silicon, we’re unlocking new possibilities for our users with Apple Intelligence, which makes apps and experiences even better and more personal.”
In the wake of the iPhone 16 launch in September 2024, Apple made US$69.1 billion from iPhone sales between October and December. It’s slightly down from the US$69.7 billion made in 2023, as was revenue from the company’s Apple Watch and smart home division.
Slower iPhone sales line up with data from the IDC, indicating that while Apple shipped more phones than any other company, it was less than the year prior. Regardless, Cook looked at the positives, claiming “the [iPhone] install base hit a new all-time high”.
More than making up for the loss was an increase in Mac and iPad sales late last year. Apple’s biggest boost came from ‘Services’, the label given to money made from advertising, subscriptions, and App Store purchases. Here, revenue grew by over US$3 billion, from US$23.1 billion in 2023, to US$26.3 billion in the same quarter in 2024.
While Apple has had issues with its Apple Intelligence rollout, it’s done little to dissuade people from climbing aboard the iPhone train.
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