For the first time, iPhone sales have been higher in China than in the US, Apple revealed during the earnings call after reporting a blockbuster second fiscal quarter. While we need to remember that the Chinese New Year has contributed to the growth of iPhone sales, the fact is that Apple’s revenue in China was up 71% to $16.8 billion, reports Reuters.
As Apple CEO Tim Cook said during the earnings call yesterday, it’s the expanding middle class that is fuelling iPhone sales in China.
But it isn’t just China: The bigger-screen iPhone 6 and iPhone 6 Plus are popular worldwide, the company said. Fact is, the sales numbers reported on Monday confirm that: 61.17 million iPhones is more than the 55 million average forecast of the professional analysts, as highlighted by Philip Elmer-DeWitt of Fortune.
“A 60 million-plus iPhone number is a home run and will be cheered by the Street as this remains the bread and butter of Apple,” said FBR Capital Markets analyst Daniel Ives.
Of course, one of the most timely questions remained unanswered during the earnings call: How many Apple Watch units did Apple sell? What we have are just estimates, but Cook said the consumer response was “overwhelmingly positive”.
As of the end of the March quarter, Apple has $193.5 billion in cash and marketable securities, up more than $15 billion compared to the previous quarter.
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so many people in China, that if they even get a small percentage is a huge jump in profits, at this rate, a valuation of a trillion dollars is not very far at all.