Apple logs $43.8 bn in iPhone sales, new September quarter record

NEW DELHI: Apple registered $43.8 billion in iPhone revenue in the September quarter, up 3 per cent year-over-year (YoY) and a new quarter record.

In the quarterly earnings report on Thursday, Apple CEO Tim Cook said that the iPhone 15 was performing better in its early days than the iPhone 14 last year at this time.

The iPhone 15 series was made available on September 22 and received a good response globally, including in India.

“Customers are loving the entire iPhone 15 family and reviews have been off the charts,” said Cook.

The iPhone active installed base grew to a new all-time high and fiscal 2023 was another record year for switches.

The iPhone 15 and iPhone 15 Plus feature a gorgeous design and are powered by industry-leading A17 Pro silicon chip, durable titanium design and the best iPhone camera system ever.

According to industry experts, Apple enjoyed a strong growth momentum during the quarter, driven by aggressive double-digit growth in its old-generation iPhones.

"The premiumisation trend continued to steer Apple’s iPhone market growth," said Prabhu Ram, Head–Industry Intelligence Group, CMR.

The Apple Services revenue also set an all-time record of $22.3 billion, up 16 per cent year-over-year, with growth accelerating sequentially from the June quarter.

"Our performance in Services were broad based, as we reached all-time revenue records in the Americas, Europe and rest of 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.

Mac revenue was $7.6 billion, down 34 per cent year-over-year, “driven by challenging market conditions and compounded by a difficult compare in our own business”.

“Last year, we experienced supply disruptions from factory shutdowns in the June quarter and were subsequently able to fulfill significant pent-up demand during the September quarter,” said Maestri.

iPad generated $6.4 billion in revenue, down 10 per cent year-over-year.

“Similar to Mac, these results were a function of a difficult compare from the supply disruptions in the June quarter a year ago and the subsequent fulfillment of pent-up demand in the September quarter,” Maestri told the analysts.

Wearables, Home and Accessories revenue was $9.3 billion, down 3 per cent year-over-year.

Apple Watch continues to expand its reach with nearly two-thirds of customers purchasing Apple Watch during the quarter being new to the product, said the company.