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iPhone Sales Make History in 4Q14

iPhone Sales Make History in 4Q14

Apple Earns Largest Net Income for Any Company in Corporate History

February 2, 2015

Apple just broke some serious records, thanks to massive sales of the iPhone 6 and iPhone 6 plus at the end of 2014.

Despite predictions that the tech company would sell less than 70 million iPhones by the end of its fiscal first quarter (December 27), Apple came out on top with sales of more than 74.5 million devices.

These sales contributed to Apple’s revenue increase to $74.6 billion (up from $57.6 billion last year). This $18.02 billion profit (compared with a $13.07 billion profit last year) is the biggest ever reported by a public company worldwide, bringing Apple’s total earnings up to $178 billion (enough to buy IBM, or give every American $556).*

 

A Breakdown of Profits, and Looking Ahead

 

LAST QUARTER LOOKING AHEAD
IPHONE SALES IN THE U.S. According to the numbers, domestic iPhone sales were the highest worldwide, despite the growing rate of iPhone sales in China (below) and around the world. Apple CEO Tim Cook specifically mentioned plans for new Apple Pay features (Apple Pay allows users to purchase products with their phones) on the horizon.
GROWTH IN CHINA Reports show that sales of iPhone 6 and 6 plus devices saw a 70 percent increase in the Chinese market, in addition to a 14 percent rise in sales of Macbook computers and older iPhone models. This immense growth can be attributed to Apple’s partnership with China Mobile Ltd. – the largest global mobile carrier. Apple is well-positioned for the current quarter in China, which will include the Chinese New Year holiday and reflect Apple’s attempts to sell through new channels. Furthermore, Apple will try to build upon this growth, announcing plans to reach 40 company stores in greater China by 2016.*
IPHONE SALES WORLDWIDE Continuing the trend, Apple’s CFO says that iPhone sales also doubled in Singapore and Brazil. Though no specifics were given, Cook mentioned that Apple would continue efforts to expand internationally.
TECH APPEAL Experts also attribute Apple’s success to the apparently universal appeal of an iPhone with the screen of a “phablet” (see The Future of Smart Devices). In addition to new features for Apple Pay (above), Apple announced plans to release its next innovative product, the Apple Watch, in April.
TIMING Quarterly results show that iPhones earned record sales during the holiday shopping season this year. On a more general note, the smart device industry continues to grow and shows no signs of stopping – Apple will likely take advantage of this growth to design and market new products to stay ahead of the curve.

 

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* Farr, Christina. Apple iPhone sales trample expectations as profit sets global record, Reuters. Thomson Reuters.