In its earnings report in the first quarter of 2022, Apple, this Cupertino-based company, has managed to ship iPhones worth USD 50 billion.
iPhone revenue for the first three months of 2022 was $50.57 billion. This figure is an increase of 5.5% from 2021.
iPhone sales figures are currently considered quite extraordinary. Even Appe CEO Tim Cook said that the quarter was the most successful quarter as reported by us from Gizmochina.
The surge in iPhone usage can't be separated from the 'switcher' - the previous Android users who are now switching to using the iPhone. The sales figures can also indicate increasing demand for iPhones in some global markets.
The expansion of Apple's customer base is also due to the production of the more affordable iPhone SE 3 model. Tim Cook also said the company is growing switchers at double-digit rates, reflecting increased consumer confidence.
On the other hand, iPad sales shrank 2% to USD 7.65 billion from the previous year. Tim Cook stated that supply chain challenges were the main reason for the decline in iPad sales in the quarter.
Overall, however, Apple's performance in the quarter was much better than expected.
Apple's services business also saw a surge in revenue for the first quarter, recording a 17.8% increase from 2021. Total revenue from Apple's services totaled USD 19.82 billion.
According to Apple CEO Tim Cook, the company will continue to vigorously pursue its focus on innovation in products and services. He said the company is pleased to see a strong customer response to its new product and is pursuing carbon neutral status by 2030.
