INTERNATIONAL- This past quarter, Apple failed to reach analyst estimate sales of iPhone units of 80 million and only managed to sell 77.3 million iPhones.
They were also one million units shy of its last record of 78.2 units in Q1 2017. However, the company managed a revenue of $88.3 billion this past quarter, on target with the $84 to $87 billion sales figure it projected in its last earnings report.
So even though Apple sold fewer iPhones compared to this period last year, it made more money thanks to the higher price of the iPhone X. The 10th-anniversary model's average selling price of an iPhone is now $796 compared to $695 last year, prior to the device’s launch. Apple’s total sales are up 13%.
It also kept more older iPhone models on sale during the holiday season, in an effort to capitalize on fast-growing markets like China and India. International sales accounted for 65% of total sales, the company reports.
“iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November,” CEO Tim Cook says.
“We’ve also achieved a significant milestone with our active installed base of devices reaching 1.3 billion in January. That’s an increase of 30 percent in just two years, which is a testament to the popularity of our products and the loyalty and satisfaction of our customers”, said Cook.
Sales of the iPad devices year over year is smaller, just increased 1% during the same period last year. Apple’s revenue continue to flow in from other divisions like services — which includes iCloud, Apple Music, iTunes, and the App Store — with an increase of 18% year over year.
Last quarter, Apple’s services division generated more revenue than sales of AirPods, Apple TV, Watch, and iPad combined. For the next quarter, the company is projecting a revenue of $60 billion compared to $51.5 billion this time last year as it prepares to release its HomePod smart speaker mid-way through this fiscal quarter.