What you need to know
- Tim Cook said that the iPhone is seeing strong growth.
- He specifically said that the company is seeing "strong double digit" growth from upgraders and switchers.
It looks like Apple is getting more customers to switch over from Android.
As reported by CNBC, Apple CEO Tim Cook spoke with Steve Kovach about the company's financial performance in the second quarter of 2022. According to Apple, the iPhone business grew over five percent during Q2 2022, a strong indicator that the iPhone 13 lineup continues to perform well.
Cook said that not only was the iPhone performing well but that it was seeing "strong double digit" growth for those upgrading their iPhone as well as those switching from Android.
"We had a record level of upgraders during the quarter and we grew switchers, strong double digits," Cook told CNBC's Steve Kovach.The beat also suggests that Apple's premium smartphone business may be insulated from concerns about deteriorating consumer confidence. The increase in sales also came despite a difficult year-over-year iPhone comparison, since the new iPhones were launched earlier in 2021."It's clearly a strong cycle," Cook said.
Apple reported another record quarter, posting $97.3 billion in revenue in Q2 2022, a nine percent increase and a revenue record for its March quarter.
Bottom line: The iPhone 13 is the best iPhone for most people, with impressive new cameras and notable improvements to battery life. Without all the bells and whistles of the Pro line, the iPhone 13 and iPhone 13 mini are still powerhouses that'll keep owners happy for years to come.
