Yesterday Apple announced their Q1 earnings report and the numbers have remained staggering. Let’s breakdown what was announced and you can take a few moments to soak in just what Apple was up to in the previous quarter.
Apple Q1 Factsheet
– Apple sold 2,524,000 Mac computers (a 9% increase from last year’s quarter)
– Apple sold 22,727,000 iPods (a 3% increase from last year’s quarter)
– Apple sold 4,363,000 iPhones (an 88% increase from last year’s quarter)
– Apple sold $10,170,000,000 (yes, 10 billion) in revenue
– Apple now has 28 billion cash on hand
So just how successful has the iPhone been?
– Apple sold 13.7 million iPhones in 2008, well ahead of its 10 million stated goal.
– A total of 17 million iPhones have been sold since the launch in 2007!
Apple Addresses those Silly iPhone Nano Rumors Floating Around the Internetz
On the topic on handset price reductions, Cook said there is clearly price elasticity, but that Apple believes the $199 level is a “compelling value and we see nothing in the marketplace that is anywhere close to it.” In other words, no $99 iPhone anytime soon.
What did Steve Jobs have to say about Q1?
“Even in these economically challenging times, we are incredibly pleased to report our best quarterly revenue and earnings in Apple history — surpassing $10 billion in quarterly revenue for the first time ever,”
Interesting Response to the Palm Pre
On iPhone competitors, Cook said that having different resolution screens and sizes (like the multiple Android phones will) is a problem for developers — this pretty much rules out an “iPhone nano” for the time being. He went on to say that Apple will challenge any company it thinks is infringing on its IP — which is hard to be taken any other way than a warning to Palm, whose new Pre device is the first to significantly incorporate multi-touch components since the iPhone.
Reading these numbers makes my head spin about the revenue and products Apple has generated in their Q1. The number that got me was 17 million iPhones sold since launch. That’s what happens when you create a sexy looking device that works (minus a few items we all have on our wishlists *cough* copy and paste) coupled with excellent marketing. I can only dream what the next generation iPhone will be like given the fact that Apple has such vast amounts of cash to devote to R&D.
With the current global economic downturn (don’t you just love hearing that 10x a day?), I can only imagine how much this has affected sales for Q2. The expectations for iPhones sold in Q1 were lower than what analysts predicted. Only time will tell how many iPhones will be sold in the current Q2. Your predictions?