In the third quarter of fiscal year 2024, Apple set a record with revenues of $85.8 billion (5% more than in the same period last year), while net profit reached $21.45 billion.
Sales of the iPhone, which faces intense competition in China from local manufacturers, fell by 6% in the country, while MacBook Air and iPad showed growth — most Chinese customers were new to Apple, which means that the company is still able to attract a «fresh» customer base
At the same time, the company’s CEO Tim Cook emphasized that the iPhone is still the leader in sales in the Chinese urban market, and this is important because city dwellers tend to have higher incomes.
In terms of overall performance, iPhone sales decreased by 1%, while Mac and iPad sales grew by 2% and 24%, respectively (the latter figure was achieved withthanks debut of new models).
The iPhone is still the most important product line for Apple, accounting for about 46% of the company’s total sales during the quarter.
«On a consistent basis, we’ve been growing year over year. We look at it from an operational perspective,» says Apple CEO Tim Cook.