Despite a delayed and fragmented launch, Apple’s iPhone 12 helped boost the company over new milestones, reaching more users than ever, according to the company’s Q1 earnings call.
During its latest earnings call, Apple revealed that the company has seen substantial growth over the quarter. Its revenue rose 21 percent to $111.44 billion and reached an install base of 1.65 billion devices. Reuters interviewed Apple CEO Tim Cook, who revealed that Apple now has an install base of more than 1 billion users on iPhone.
Apple saw quite a lot of growth in 2020. The launch of the iPhone 12 which features an OLED display, revised design, and 5G networking capabilities, helped the company exceed its 900 million install base it saw in 2019. A large contributor was the market in China, where sales rose 57% to $21.31 billion.
When speaking to Reuters, Cook said, “We had two of the top three selling smartphones in urban China.” He later stated that “upgraders, in particular, set an all-time record in China.”
Aside from the iPhone, Macs and iPad products sold respectively well in their own right. Mac sales reached $8.68 billion while iPad sales hit $8.44 billion. Even Apple’s many services in music, television, cloud storage all were received well, bringing in $15.76 billion in revenue. Across all services, Apple has 620 million subscribers, outperforming its 2020 target, according to Cook.
However, one constant hurdle affected Apple in the previous year. A common issue ran across Mac, iPad, and especially iPhone and that was “supply constraints,” said Cook. While there were multiple contributing factors at play, Apple’s CEO stated that the availability of “semiconductors are very tight”.
Aside from its flagship devices and services, Apple’s wearables also contributed quite a fair bit to the company’s overall growth. Apple Watch and AirPods hit a combined total of $12.97 billion in revenue. Near the tail end of the year, the company released its first over-the-ear headphones, the AirPods Max. The new device wasn’t able to contribute a whole lot to Apple’s gains, though demand was exceedingly high. Orders for the AirPods Max were pushed months out due to supply constraints. Cook told Reuters that it’s likely that this trend may continue well into the company’s fiscal second quarter.