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iPhone hits 2 billion active devices milestone amid slow sales

In its financial report for Q4 2022 (the last quarter of 2022), Apple reported a decrease in both revenue and sales compared to the same period in the previous year due to inventory limitations caused by supply chain issues. Despite this, the company emphasized some positive developments, such as reaching a new record high in the revenue of its Services business and having 2 billion active devices in use.

For the quarter ending December 31, 2022, total sales were $117.1 billion, compared to $123.9 billion in the same quarter the previous year. Net income for this period was $30 billion, which represents a decrease of 13% from $34.6 billion in the prior year.

Apple no longer discloses unit numbers and instead only reports revenue by category. iPhones remain the largest contributor to sales, however, they experienced an 8% decrease compared to the previous year. The Services business, on the other hand, recorded a 6% increase in revenue with $20.8 billion generated between October and December 2022. The only other product category that showed a slight increase was iPads, with a 30% jump in revenue from $7.2 billion to $9.3 billion.

Tim Cook, the CEO of Apple, stated that the company has “an unparalleled lineup of products and services”. The CFO, Luca Maestri, noted that while the revenue might appear to be decreasing, it actually grew when adjusted for constant currency. Apple generated $34 billion in cash flow and returned more than $25 billion to its shareholders through a $0.23 cash dividend per share.

(in $ million)Period ending Dec 31, 2022Period ending Dec 25, 2021Change
iPhone sales65,77571,628-8%
Mac sales7,73510,852-28%
iPad sales9,3967,24828%
Wearables, Home and Accessories sales13,48214,701-8%
Services sales20,76619,5166%
Total sales117,154123,945-5%
Net income29,99834,630-13%

The iPhone is Apple’s flagship product and one of the most popular smartphones in the world. It is known for its sleek design, advanced features, and high-end performance. iPhone sales have declined 8% from previous period.

Next is the iPad that has been widely adopted by consumers and businesses alike. iPad sales have recorded massive increase of 28% this year.

In personal computers category, the Mac is Apple’s line of personal computers that are known for their performance, design, and user-friendly operating system. They are popular among both personal and professional users for their versatility and ability to handle demanding tasks. Sales of Mac computers have declined by 28% this year.

Apple’s highest sales year was in 2020, where it recorded a revenue of $274.5 billion. On the other hand, the company’s lowest sales year was in 2016, where it recorded a revenue of $215.6 billion.

India Tech News