Apple iPhone sales hit 3 billion mark amid 13% YoY surge in Q3
It took Apple nine years to reach 1 billion iPhone sales in 2016. Since then, it has sold another 2 billion devices, showing how the iPhone's popularity has grown over time.
In Q3, iPhone sales rose by 13% compared to the same period last year, generating $44.6 billion in revenue. The iPhone remains Apple's best-selling product. While Apple had strong results to report this quarter and higher-than-expected iPhone sales, rising import tariffs could create challenges in the months ahead. Some analysts, including Bloomberg's Mark Gurman, believe the recent boost in iPhone sales may have been due to customers rushing to buy before potential price hikes.On a positive note, Apple saw a modest recovery in China, where the company has recently struggled. Revenue from the region grew from $14.7 billion to $15.3 billion year-on-year, a welcome sign after several weaker quarters.
Cook also shared more positive news about Apple's performance in India. The company reported record revenue in India from April to June, with double-digit growth in iPhones, Mac computers, and the services business. Cook also said that the company is going to open its new Apple retail stores in India later this year. Overall, Apple reported quarterly revenue of $94.04 billion, up 10% from last year. Net profit reached $23.4 billion, or $1.57 per diluted share, a 12% increase in earnings per share.
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