With 77.3 million units sold, overall iPhone sales were down slightly year-over-year. When the dust settled, Apple recorded $88.3 billion in revenue, almost $4 billion more than the revenue it posted during the same quarter a year ago. Sixty-five percent of those revenues came from worldwide sales, Apple said, noting that the record sales came despite the fact that the 2018 quarter was one week shorter than the same quarter in 2017.
"It was a stellar quarter for iPhone", Cook said.
Apple has now confirmed that these updates will be released sometime in spring, according to a report by The Washington Post about the Justice Department's investigation into Apple's forced throttling practices.
Samsung remained the leader in the smartphone market for 2017 despite losing out to Apple in the fourth quarter. All these actions are solidifying a rumor about possible discontinuation of iPhone X that was raised by some industries and people.
IPhone buyers paid an average of more than $796 in Apple'sfiscal first quarter, marking the first time that average selling price has topped $700.
Cook spent much of an earnings call with analysts playing up increasing revenue from Apple services, digital content, subscriptions, and products other than iPhones.
Apple Inc's hint of returning a ton of cash to shareholders was not enough to move investors who anxious more about the iPhone maker's weak outlook amid reports of production cuts for its flagship iPhone X. "Amount of orders is being reduced by more than 50% every quarter and there are not any scheduled orders for the second half of this year as of now." said a representative for a component manufacturer. Samsung shipped 74.1 million units (-4.4 percent) in Q4 and 317.3 million (+1.9 percent) in 2016.
The CFO told Bloomberg that Apple ultimately plans to hold an equal amount of cash and debt without specifying when this would happen. Apple will discuss the plans in full when it reports March quarter results. Apple was able to make up for lower-than-expected iPhone unit sales in a number of ways: Its services business is booming, for example, and the average price for the iPhones that it did sell was high.
For the second quarter of fiscal year 2018, Apple forecasts revenue between $60 billion and $62 billion and a margin between 38 percent and 38.5 percent. Those customers may opt instead for older, cheaper iPhone models that Apple has kept in its lineup.
However, despite this shortfall in sales iPhone revenue is up a whopping 11.69% to an incredible $61.58 billion dollars, compared with the same period past year.
Global sales accounted for 65 percent of Apple's sales during the quarter, the company said.
While some were quick to pounce on a year-over-year decrease in iPhone sales as evidence that we've reached peak iPhone - a sentiment analysts have been hurling at Apple for quite a few years now - a closer look at the numbers reveals that the strength of Apple's iPhone line remains incredibly healthy, if not under-appreciated.
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