Finance

Apple will no longer disclose device sales figures

Apple will no longer disclose device sales figures

He said they included weakness in emerging markets, an expected $2bn cost from unfavourable foreign exchange rates and uncertainty over whether it could keep up with demand for new products. Customer satisfaction for the Apple Watch, he said, was also high, adding that the wearable is among the ways the company can make breakthroughs into the health industry.

Apple Chief Financial Officer Luca Maestri said Thursday on a conference call with financial analysts that the company will no longer offer unit sales data for iPhones, iPads and Macs starting in the next quarter.

The highlight of the Apple quarterly results was that the company beat the market expectation by recording all-time high of $10 billion in revenue just from services, a 27% increase over Q4 2017.

Quarterly earnings per diluted share reached $2.91, up 41 per cent.

Apple CEO Tim Cook voiced optimism that the Indian government will at some point agree to allow the technology giant to bring in its stores as he lauded the country's bold reforms, saying he was a "big believer" and "very bullish" on India.

In August, the tech giant became the first $1 trillion publicly traded US business, a milestone reached after it boosted revenue on higher-priced models such as the iPhone X. Yet just three months later, the company spooked investors by announcing it wouldn't disclose the closely watched iPhone sales figure.

But Apple's decision to be less transparent about its unit sales is tied to the strategy I discussed in Apple Jacked (Premium): With device sales stagnating (iPhone) or even falling (iPad, Mac) each year now, Apple has been forced to raises prices across the board as part of an effort to further monetize each customer. While typically third and fourth quarters are the best for iPhone sales, this festival season has showered its blessings on Chinese smartphone-makers instead of the iconic Apple brand.

Cook explained that doing so is no longer relevant to investors and likened it to shopping in a grocery store. "It doesn't matter a lot how many units there are in terms of the overall value of what's in the cart". That said, Apple during the quarter gone by sold 46.9 million iPhones. However, revenue from the handsets was up 29 percent to $37.2 billion, thanks to the iPhone's average selling price jumping from $618 to $793.

Despite the declining sales of all the major products, Apple has once again managed to beat the Wall Street expectations in terms of revenue.

The refurb iPhone 8 with 64GB of storage can be yours for $499, which is $100 less than its regular price.

"In fiscal year 2018, our revenue grew by Dollars 36.4 billion".

Cook said Apple's business in India in the fourth quarter was flat.


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