Apple just reported its first quarterly earnings for 2018, and the company has exported that it sold 77.3 million iPhone sin Q1 2018 (this includes the holiday season). When comparing this to last year, it’s down 1.24 percent year over year because last year at the same time, there were 78.3 million iPhones sold.
Even though Apple noticed a slump in sales, iPhone revenue actually increased overall year over year, up 11.69 percent from $54.38 billion to $61.58 billion.
Previous predictions for the average sale price of iPhone units sold during the quarter had ranged from $710 to $755, but the actual ASP was $796. This is quite the increase from $694 in Q1 2017. This explains how Apple managed to increase revenue despite the decease in overall sales. It’s worth mentioning that despite the record revenue posted by Apple, analysts were still expecting a slight increase of approximately 1.5 percent year over year for units shipped, not a decrease. Apple posted a decrease of 1.24 percent.
Apple said that total sales were up 13 percent year over year, with posting quarterly revenue of $88.3 billion. Apple CEO Tim Cook said that the ‘ iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November.” This helped Apple shift the numbers a bit, despite overall shipments decreasing. Apple may have sold less iPhones, but offset the difference by selling the most expensive iPhone yet.Hamza Khalid is a the editor-in-chief at The Jolt Journal. Following him on Twitter. If you have any questions, concerns, or need to report something in this article, please send Hamza Khalid an email at [email protected] This story may be updated at any time if new information surfaces.