Apple has clocked its 3rd quarter earnings for the financial year. The Cupertino-located smartphone behemoth clocked one more record performance during the quarter with Tim Cook defining as the company’s best-ever quarter for June. “We are happy to post Apple’s quarter earnings for June, and our 4th uninterrupted quarter of double-digit income development,” Cook claimed to the media in an interview at the time of earnings release. “Our Q3 earnings were boosted by constant sturdy sales of Services, iPhone, and Wearables. And we are very happy about the services and products in our timeline,” claimed Cook.
The ASP (average selling price) for iPhones increased to $724 per iPhone by 20%, up from $606 as compared to the same quarter a year back. iPhone X (Apple’s anniversary iPhone), which has an introductory price tag of $999 in the firm’s major market (US), carries on to be the most popular handset by the firm. “iPhone X was the most popular smartphone once again in the quarter, with a user satisfaction rate of 98% as per researchers,” claimed Cook.
The firm’s income from music subscriptions, App Store, and other services crossed $9.5 Billion, setting one more record. The number of subscribers for Apple Music all over the world reached 50 Million. The net cash by Apple stood at $129 Billion, as per a media report.
On the other hand, some downfalls were also seen. Apple is no longer the 2nd biggest handset firm in the world. It lost the second rank to Huawei in the April–June quarter. Huawei attained the 2nd slot with total handset shipment of 54.2 Million all over the world in the quarter two in comparison with Apple’s 41.3 Million.
Sales for Apple iPhone unit elevated only 1% as compared to a year ago. The firm traded 41.3 Million iPhones during the quarter that concluded on June 30, 2018. This is marginally less than 42 Million expected by experts.