Apple has announced a solid start to its fiscal year, with iPhone sales successfully peaking on all-time high in the first quarter, majorly driven by a great demand of the flagship iPhone 17 series.
The Cupertino-based tech giant reported total revenue of $143.8 billion for the quarter that concluded on December 27, marking a record-breaking 16% year-on-year surge and its fastest growth rate since 2021.
iPhone revenue exponentially rose 23% than the sales of last year in the same period, with sales coming from different countries, including China, Europe, the Americas, and Japan.
Apple’s CEO Tim Cook stated, “Today, Apple is proud to report a remarkable, record-breaking quarter, with revenue of $143.8 billion, up 16% from a year ago and well above our expectations.”
“iPhone had its best-ever quarter driven by unprecedented demand, with all-time records across every geographic segment, and Services also achieved an all-time revenue record, up 14% from a year ago. We are also excited to announce that our installed base now has more than 2.5 billion active devices, which is a testament to incredible customer satisfaction for the very best products and services in the world,” Tim added.
China has significantly contributed to the company’s strong performance, with Apple reporting record numbers of both upgraders and switchers in mainland China.
While iPhone and Services performed strongly, other segments delivered mixed results.
Other devices and wearable delivered mixed results, as its revenue saw a sharp decline by around 3%, while Mac sales plunged to 7% every year despite the release of high-end new MacBook Pro.
On the contrary, iPad revenue spiked 6% to $8.6 billion, with nearly half of customers buying an iPad for the first time.
Overall, Apple’s results reflect strong consumer demand for its flagship handsets, solidifying the company’s position as it enters the remainder of the fiscal year.
