California. Apple’s profit rose 11.4% to $ 22.2 billion (Rs 1.58 lakh crore) in the October-December quarter. This is the largest ever quarterly profit of an American company. Apple benefited from increased sales of flagship product iPhone four quarters later. Most of Apple’s revenue comes from iPhone. IPhone sales grew 8% to $ 56 billion (Rs 3.99 lakh crore) in the December quarter. Apple’s total revenue increased 9% to $ 91.8 billion (Rs 6.54 lakh crore) in the previous quarter as compared to the December quarter of 2018. This is also the record so far. IPhone accounted for 61% of the total revenue. The company announced quarterly results on Tuesday.
37% revenue growth in wearables segment
Segment Revenue Growth (Yearly)
IPhone 11 highest sales
Due to the holiday season, December quarter sales are important for Apple. Apple CEO Tim Cook said the iPhone 11 had the highest sales in the last quarter. The services and wearables segment also recorded record revenue. Increasing revenue in the services and wearables segment is important for the company as the company had increased expectations from these segments for the future, given the declining iPhone sales in the last few quarters. The services segment includes Apple TVplus, Apple Music, iCloud, Apple Care and other products.
Target of 60 million paid subscribers this year
Apple has 45 crore paid subscriptions on the services platform. The company has set a target of 60 million by the end of this year. However, the company did not separately state the number of subscribers of Apple TVPlus. In November last year, the company launched on-demand streaming service Apple TVPlus in over 100 countries at $ 4.99 per month.
India’s major role in Apple’s growth
Apple is manufacturing iPhone XR in India. By the middle of this year, there are also plans to sell products directly through company outlets in India. Apple did not release sales figures in individual countries, but CEO Tim Cook said the company performed well in markets such as Brazil, China, India, Thailand and Turkey in the December quarter.
Growth returns in China, 15% of revenue comes from there
The company has released estimates of total revenue of 63 billion to 67 billion dollars in the January-March quarter. China is an important market for Apple after the US. Apple’s revenue growth returned to China in the December quarter, before a steady decline was reported. China accounted for 15% of the company’s total revenue. Apple says that if there is no spread of coronavirus, there is no question about the company’s growth in China even further.