Tim Cook Hints at Apple's Wearable Revenues and They are Huge

  • Tim Cook Hints at Apple's Wearable Revenues and They are Huge

Tim Cook Hints at Apple's Wearable Revenues and They are Huge

Apple noted that iPhone demand was impacted by consumers anticipating the 10th anniversary edition of the popular smartphone, but it still managed to sell 50.8 million units.

Apple's bottom line continues to be buoyed by iPhone sales, as it contributes about two-thirds of Apple's revenues and a major part of its profit.

As the company has authorised share repurchase to $210 billion from the $175 billion level, Apple now has 5.25 million shares outstanding, compared with the 5.76 million shares outstanding it had in March 2015. Unfortunately for Apple, the increased competition from cheaper, local Chinese competitors and the strong dollar were detrimental to its Chinese turnover, down 14 %.

In the company's earning call, Cook blamed unfavorable exchange rates and falling sales in the Hong Kong market, which attracted fewer Chinese visitors to purchase Apple products during the period.

The continued decline in iPhone sales could be partly attributed to market saturation, with iPhone owners not willing to upgrade their devices as soon as new models are rolled out.

Apple's senior vice president of worldwide marketing Phil Schiller was in India opening a developer centre last quarter.

"We've been investing [in India] quite a bit".

Net income rose to US$11.03bn from US$10.52bn the year before. Shares of the company fell after the announcement. Apple's Mac sales, which saw 4.2 million sold also reportedly adhered to analysts' expectations. "We had more upgraders in the first half than ever before". "And so that and the demographics of the country is why we're putting so much energy there", Cook said.

"It took us a little while to adjust all the way back through the supply chain and to bring iPhone 7 Plus [availability] into balance, which occurred. early this past quarter", Cook said, CNet reported. While the exact figures are still in the dark, Cook added that the revenue for Apple's wearables - the Apple Watch, Beats headphones, and AirPods in the a year ago was "the size of a Fortune 500 company".