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iPhone X is still a top seller in Apple’s new record quarter

Apple Q2 FY2018 Report

Apple has just announced its fiscal Q2 2018 financial results and it’s their best second quarter with an overall revenue increase of 16% compared to the same period a year ago. They have generated a quarterly revenue of US$61.1 billion and 62.2% of that is coming from the iPhone.

Despite recent gloomy news of iPhone X slowing down, Tim Cook has said once again that the iPhone X is still the best selling iPhone. In the announcement, he said “Customers chose iPhone X more than any other iPhone each week in the March quarter, just as they did following its launch in the December quarter. We also grew revenue in all of our geographic segments, with over 20% growth in Greater China and Japan.”

Naturally, fiscal Q2 sales are slower compared to Q1 but Apple has managed to move a total of 52.2 million units of iPhone, 9.1 million units of iPad and 4 million units of Mac. Looking at the breakdown above, revenue has increased year-on-year for the same period across all categories including services and other products which include AirPods, Apple TV, Apple Watch and etc. Apple makes a gross margin of 38% at US$23.42 billion.

If we look at iPhone specifically, Apple is having an average revenue of US$728.35 (about RM2,861) per unit which is the second highest so far. It’s obvious that the iPhone X is bringing in the money as Apple is getting 14% more iPhone revenue with just 3% more units sold. Since this report is for the fiscal quarter ending 31 March 2018, it doesn’t include the new Product(RED) edition of the iPhone 8.


Alexander Wong