Apple announced its quarterly earnings this week and contrary to analyst predictions, its most-expensive iPhone X came out to be its best-selling smartphone in the first quarter of 2018.
Apple announced its quarterly earnings this week and contrary to analyst predictions, its most-expensive iPhone X came out to be its best-selling smartphone in the first quarter of 2018.
The iPhone X was believed to impact Apple's sales revenue owing to its sheer USD 1,000 price tag. However, Apple shipped 16 million units of the most expensive iPhone ever in the given quarter, Cnet reports.
In comparison, iPhone 8 and iPhone 8 Plus, which were launched alongside the iPhone X, sold 12.5 million units and 8.3 million units respectively.
In terms of revenue, Apple earned USD 150 billion and USD 34 billion in earnings for the first half of its fiscal year.
Last week Apple Inc reported resilient iPhone sales in the face of waning global demand and promised $100 billion in additional stock buybacks, reassuring investors that its decade-old smartphone invention had life in it yet.
Apple's quarterly results topped Wall Street forecasts, which dropped ahead of the report on growing concern over the iPhone.
Meanwhile in India, the market share of iPhone maker Apple plunged while Samsung dominated the premium smartphone segment in India in the first quarter of 2018, as per two market research reports released. "Apple's share in the premium segment dipped as the volumes dipped by a massive 55 per cent due to decline in shipments for its iPhone 8 and X series.
"Additionally, the increase in import duty on CBUs (completely built units) to 20 per cent during the quarter, led to increase in prices of already expensive iPhones," Counterpoint Research said in its report.The premium segment accounts for 4 per cent of the overall smartphone market in India and three brands -- Samsung, OnePlus and Apple -- contributed to 95 per cent of the overall share in the segment, the report said.
Apple has been in discussions with the government to resolve some issues it has raised pertaining to manufacturing norms before it expands local production. In the meantime, three-times increase in import tariff during last five months is visible on sale of iPhones, it said.
According to CyberMedia Research, Apple was on top in the last quarter of 2017 with the launch of iPhone X and iPhone 8/8Plus, but the shipments of devices from the company to India declined by 74 per cent which was also reflected in market share.
"In the super premium (handsets priced above Rs 50,000 a unit) flagships segment, Apple saw its share decline from 82 to 25 per cent," the report said "Samsung captured half of the premium segment with 16 per cent YoY growth, driven by strong initial demand of its new flagships S9, S9 Plus and online exclusive Galaxy A8 plus," the report said.
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