Apple's iPhone Sales Soar with Nearly 22% Revenue Growth
Apple's iPhone business has been on fire in its recently reported fiscal third quarter. Revenue of $54.25 billion was not only up nearly 22% but also topped analysts' expectations of $53.86 billion.
The company's flagship iPhone franchise led a companywide beat of Q3 earnings and sales outlooks, offsetting its services arm's revenue shortfall.
Despite Apple stopping the reporting of total iPhone sales in 2019, IDC continued to track unit shipments for major smartphone manufacturers. According to IDC, Apple was one of only two companies to defy the overall 6.7% year-over-year decline in total smartphone shipments during the second calendar quarter of this year.
Apple's 15.3% year-over-year improvement in iPhone shipments outpaced Samsung's 8.1% increase and indicates that the company is asking for, and getting, a higher average selling price (ASP) for its current slate of iPhones.