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.
iPhone 12 caused record number of upgraders in holiday quarter
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 unit
Cook 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.