The number of iPhone sold is shrinking, but their high price brings more revenue for Apple
We've heard only a few weeks of bad things about Apple and the weak sales of the new top model, iPhone X, but its investors are most likely happy. Despite the fact that in the first quarter of fiscal year 2018, which just ended, Apple sold less devices than in the same period of the previous year, revenue and profit were higher, so the strategy of launching a more expensive phone seems to have worked .
According to the Apple report, in Q1 2018, 77.3 million iPhone devices were sold, down by 1.24 percent compared to Q1 2017 (78.3 million). Revenue was up 11.69 percent from 54.38 billion in 2017 to 61.58 billion in 2018. The clear reason for revenue growth is the high price of devices, both iPhone 8 and 8 Plus, and iPhone X , being more expensive than the models launched last year ($ 50 for iPhone 8 and $ 350 for X)
Overall, when all products are taken into account, the company recorded sales 13% higher than last year, with total revenue of $ 88.3 billion in this first quarter alone. In spite of unofficial reports suggesting that iPhone X does not sell as expected, Tim Cook said that "iPhone X has exceeded our expectations and was the best selling iPhone every week since its release to date."
If there is any doubt that iPhone X would have been a success, these figures are probably proof that skeptics are needed. Of course, rumors about the limitation of iPhone X production seem real, but it could be due in particular to the fact that in the immediate period following winter holidays, the public buys fewer expensive electronics