What you need to know
- The iPhone reached a new revenue record in the third quarter of 2021.
- iPhone sales grew 50% quarter over quarter to $39.6 billion.
The iPhone continues to be Apple's cash cow as highlighted during its latest earnings call.
During today's earnings call, Apple CFO Luca Maestri announced that the iPhone achieved a June quarter revenue record of $39.6 billion, a growth of a whopping 50% year-over-year. Maestri says that the iPhone 12 lineup contributed heavily to the product's success in the quarter.
iPhone revenue set a June quarter record of 39.6 billion, growing 50 percent year over year and exceeding our own expectations as the iPhone 12 family continue to be in very high demand. Performance was consistently strong across the world and we grew very strong double digits in each geographic segment setting June quarter records in most markets we track. Our active installed base of iPhones reached a new all time high, thanks to the exceptional loyalty of our customer base and the strength of our ecosystem. In the U.S., the latest survey of consumers from 451 Research, indicates iPhone customer satisfaction of 97 percent for the iPhone 12 family.
Earlier in the call, Apple CEO Tim Cook said that the iPhone saw double-digit growth around the world, attributing its success to the new design, features, and inclusion of 5G.
For iPhone, this quarter saw very strong double digit growth in each geographic segment, and we continue to be heartened by customers response to the iPhone 12 lineup. We're only in the early innings of 5G, but its already incredible performance and speed have made a significant impact on how people can get the most out of our technology.Customers love iPhone 12 for its super fast 5G speeds, A14 Bionic chip and Dolby Vision camera never seen before in a phone.
Today, Apple hosted its Q3 earnings call and announced a June quarter revenue record of $81.4 billion, an increase of nearly $22 billion or 36 percent from a just year ago. If you want to learn more about what was said during the earnings call, check out the call transcript.
Bottom line: For most people, there is no reason to invest in the Pro model. With near-matched specs across the board, this is the new standard in iPhone.
