It was already established that Apple’s fiscal Q4 (calendar Q3) achieved remarkable revenue growth, yet further specifics were not available. A recent report indicates that this financial success is attributable to record iPhone shipments as well as the highest average selling price (ASP) ever recorded for the iPhone lineup.
Counterpoint Research has provided this information in its most recent Market Monitor report…
iPhone 16 launch quarter achieves unprecedented results
In its earnings announcement made in October of last year, Apple confirmed that it set a new revenue benchmark for the September quarter.
Apple has disclosed its earnings for fiscal Q4 2024, reporting an impressive $94.93 billion in revenue for the three-month period, marking a 6% increase compared to the previous year. This represents a new revenue record for the September quarter. In comparison, Apple’s revenue during the same quarter last year stood at $89.5 billion.
The company highlighted that a specific 6% year-over-year revenue increase was observed in iPhone sales.
Unprecedented shipments and ASP, according to Counterpoint
Since Apple has discontinued sharing concrete unit sales data, it was unclear whether the revenue growth was due to increased sales volume or a rise in average selling price. However, Counterpoint Research asserts that a combination of both factors contributed to this growth.
Apple has topped revenues and achieved its highest-ever shipments, revenues, and ASPs for the third quarter calendar year […] Apple continued to lead in terms of revenues while setting records for shipments, revenues, and ASPs.
While the exact impact of each factor remains unknown, it is noted that, across the smartphone sector, the increase in ASP held significant weight.
Global smartphone shipments rose by 2% year-over-year in Q3 2024. Overall, global smartphone revenues increased by 10% year-over-year, driven by a 7% rise in ASP.
Thus, there was only a modest growth in sales accompanied by a notable increase in average expenditure.
Graphic: Counterpoint
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