Wednesday, 1 February 2017

Apple sells record 78.3 million iPhone units during FY Q1 2017

Apple has reported record quarterly revenue of $78.4 billion in their earnings for financial year Q1, 2017, that ended December 31, 2016, beating Wall Street expectation. Revenues were up 3.29 percent year by year driven by strong iPhone 7 and iPhone 7 Plus holiday sales.

The Cupertino giant sold 78.3 million iPhones, an all-time high, compared to 74.8 million in FY Q1 2017, a 4.6 percent growth year-over-year, generating $54.38 billion in revenue. Apple CEO, Tim Cook said that iPhone 7 Plus had strong demand than iPhone 7 and it made higher-than-expected share of sales.

However iPad sales were down, with sales touching 13 million units, compared to 16.1 million, in the same quarter a year ago, down 19.25 percent. It sold 5.4 million Macs. Apple also revealed that Apple Watch also has the best quarter ever, in terms of both units sold and revenue, without giving a number.

Regarding India market, Cook said that despite the demonetization move by the government, that created lots of economic pressure last year, Apple has all-time record revenue results. He also said that Apple is in talk with Indian government to invest significantly and open retail stores in the country.

For the financial year Q2, 2017, Apple expects revenue between $51.5 billion and $53.5 billion. 


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