NEW DELHI: Apple CEO Tim Cook has revealed the preliminary figures, detailing how the company’s hardware products fared over the past year. He revealed that although this is the initial report, a more detailed one will follow soon. Based on the revelations made by him in a letter to Apple investors, the company performed well in many areas while the performance of its main product, the iPhone, was a disappointment.
The iPhone, as mentioned by Cook, brought ‘lower than anticipated’ revenue from Greater China. It has been said that this phenomenon has led to ‘all of our revenue shortfall’. He also admitted that the iPhone upgrades were also not as strong as what Apple expected. There were several factors for this.
“While macroeconomic challenges in some markets were a key contributor to this trend, we believe there are other factors broadly impacting our iPhone performance, including consumers adapting to a world with fewer carrier subsidies, US dollar strength-related price increases, and some customers taking advantage of significantly reduced pricing for iPhone battery replacements,” said Cook.

Keeping this in mind, we expect Apple iPhones to arrive with more selling points and the same price to keep the sales figures up.

However, on the other hand, non-iPhone devices revenue together grew by almost 19% year over year. The installed base of active users shot up to over 100 million units, according to Cook. The 10% year over year revenue includes revenue from Services, Wearables and Mac.

He added that ‘Services’ alone generated over USD 10.8 billion in revenue in Apple’s fiscal 2019 first quarter. Wearables division, which includes the Apple Watch and Airpods, grew by around 50% year over year. Both Mac and iPad also saw year over year growth. “...and the launch of the new iPad Pro drove iPad to year-over-year double-digit revenue growth.”

Cool added that the firm also expects a new all-time record for Apple’s earnings per share.

Source: gadgetsnow.com