Apple Posts Record Profit Despite Decreased iPhone X Shipments
Apple launched the iPhone X back in September at a record price of US$ 999 for the base variant. The iPhone X presented a huge design change from all the previous iPhones and caught the imagination of a lot of consumers. Post the launch of the device, people were divided on the presence of Face ID and the removal of Touch ID.
There were reports that Apple had reduced the production of the iPhone X due to the low demand for it in prominent markets. However, despite the recent activities, Apple recorded profit for the first fiscal quarter of 2018 (fourth calendar quarter of 2017). Apple announced that it sold 77.3 million iPhones during this phase.
Luca Maestri, Apple’s CFO said:
Thanks to great operational and business performance, we achieved all-time record profitability during the quarter, with EPS up 16 percent.
In the same phase, Samsung shipped 74.7 million phones, 2.6 million fewer than Apple’s 77.3 million. Other OEMs like Huawei and OPPO shipped far fewer devices at 41 million and 29.5 million, respectively. Apple also had the highest average selling price of its iPhones during the quarter at US$ 796.
the American tech giant’s rise is commendable especially considering the industry trend. Overall global smartphone shipments declined year over year, falling from 438.7 million units in the fourth quarter of 2016 to 400.2 million in the fourth quarter of 2017. However, over the course of 2017, smartphones shipments grew by 1% to 1.5 billion units.