Wesley Hilliard
Apple says that more people upgraded their iPhone during the first fiscal period of 2021 than in any previous quarter, with sales leaning toward "Pro" models.
Apple CEO Tim Cook commented on user growth and record numbers of upgraders during Apple's first quarter earnings call. Despite releasing the iPhone 12 lineup towards the middle of the quarter, Apple still saw 17% revenue growth year-over-year and, according to Cook, high demand for more expensive models.
Interest in 5G connectivity appeared to be one of the driving forces behind the upgrade cycle. While Apple notched record numbers worldwide, the important China region saw significant growth with the iPhone 12 lineup.
Quarterly revenue by unitCook commented that there was still plenty of room to grow, noting that "everybody doesn't have an iPhone." The iPhone doesn't have majority share in any market, so there is room for growth in developed markets as well as places like India.
The iPhone 12 lineup launched during the holiday quarter with all four models offering 5G. The product mix is more complex than ever, yet it was able to drive customer demand to new levels.
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3 Comments
Looks like one big long ‘Super-Cycle’ to me.
I would bet many iPhone X owners upgraded at this time to the iPhone 12 Pro. The price difference between the 12 and 12 Pro is only $120, making the 12 Pro more attractive. The difference between the 11 and 11 Pro was $300, making the 11 the more popular model.
My wife's iPhone X OLED display suddenly failed in August, a few months shy of the 12 release. Got the iPhone 11 as a replacement. Very nice phone. I upgraded my iPhone X to the 12 Pro. I replaced the dead OLED display on the old X with an LCD replacement for $59 on eBay. Works great, but I should have replaced the battery at the same time. Both X models are at about 85% battery capacity, but not throttling yet. Both should still sell well on the used market. The iPhone 12 Pro 6.1" is the perfect size, barely larger than the X, yet still smaller than the old 'Plus' models.