3 Growth Is Down, But Revenue Isn’t

Sales of iPhones are beginning to become stagnant. In other words, Apple just isn’t selling as many iPhones as it used to. That’s not a trend exclusive to Apple — smartphone growth across the industry is down.

It’s not all doom-and-gloom for Apple, however. While unit sales are down, total revenue from iPhones shipped has actually grown to $37.2 billion (up from $28.8 billion this time last year). That’s largely due to increased Average Selling Price, which is $793 this year compared to $617.99 last year.

Put another way, Apple may be selling fewer iPhones. But it’s selling more expensive iPhones, which is having a noted positive impact on the company’s yearly revenues.