Apple recorded a new sales record of $43.8 billion from iPhone sales, In September quarter
Apple reported revenue of $43.8 billion from iPhone sales in the September quarter, which is a 3 percent increase from the same quarter of the previous year, and a new record for the company. According to Apple CEO Tim Cook, the newly launched iPhone 15 is performing better in its early days than its predecessor, the iPhone 14, did at this time last year. The iPhone 15 series was launched in September and has received a positive response globally, including in India. Cook said that customers love the entire iPhone 15 family, and the reviews have been excellent.
During the quarter, Apple experienced robust growth momentum, driven by aggressive double-digit growth in its old-generation iPhones. According to Prabhu Ram, Head of the Industry Intelligence Group at CMR, the trend of premiumization continued to steer Apple's iPhone market growth. The iPhone's active installed base reached a new all-time high, and fiscal year 2023 was another record year for switches. The iPhone 15 and iPhone 15 Plus boast a stunning design, powered by an industry-leading A17 Pro silicon chip, a durable titanium design, and the best iPhone camera system ever.
Apple Services revenue hit an all-time high of $22.3 billion, marking a 16% YoY increase, with sequential growth accelerating from the June quarter. "Our performance in Services was broad-based, as we reached all-time revenue records in the Americas, Europe, and Asia-Pacific, and a September quarter record in Greater China. We also set new records in every Services category," said Luca Maestri, Apple's CFO. However, Mac revenue declined by 34% YoY, amounting to $7.6 billion, which was attributed to challenging market conditions and a difficult comparison in their own business.
During the previous year, we had faced challenges with supply disruptions due to factory shutdowns in the June quarter. However, we were able to fulfill pent-up demand during the September quarter, as stated by Maestri. The iPad generated $6.4 billion in revenue, which is a decline of 10% compared to the previous year. Maestri attributed this to the supply disruptions in the June quarter of the previous year, and the subsequent fulfillment of pent-up demand during the September quarter. Wearables, Home, and Accessories revenue was $9.3 billion, which is a decline of 3% year-over-year. Apple Watch continues to gain popularity, with almost two-thirds of customers who purchased an Apple Watch during the quarter being new to the product.
