Apple reported financial results for the first quarter of 2017 that were, for the most part, in line with most expectations, as the company earned $11 billion USD on revenues of $52.9 billion USD.
One of the Cupertino company’s fastest growing segments of business is its wearable market, and it seemed as if the launch of the second series of its Apple Watch gave Apple a much-needed boost, reads a report from The Verge.
Apple CEO Tim Cook said that Apple Watch sales nearly doubled last year, all the while touting the product as the best smartwatch in the world.
“So far, Apple has refused to give out exact sales numbers for the Apple Watch, as it does for its iPhone and iPad, and has instead bundled the wearable device into its ‘other devices’ category that includes Beats products, AirPods, Apple TV, and accessory sales,” reads the report.
The CEO did give a hint of the sales, albeit a very vague one. He said that the company’s wearable business, including the Apple Watch, Beats headphones, and the new AirPods, has now approached “the size of a Fortune 500 company.” The smallest Fortune 500 company pulled in $5.1 billion in revenue last year.
“When you begin to combine the watch revenues with the revenues for AirPods…and then add the Beats products that our customers really enjoy as well and look on the trailing 12 months, that business was well into the Fortune 500,” he said. He didn’t budge when asked for more details, saying only that Apple is “really committed” to Apple Watches and its other wearable devices.
Asked about the future of the device, Cook responded, “we have a really great pipeline here” – though wouldn’t elaborate any further.