iPhone 12 Drove Massive Upgrades
Each year Apple reports a fairly even balance of users buying new iPhones for the first time versus those upgrading from older models. This year, however, Cook added that while both types of customers increased over the last quarter, Apple saw “the largest number of upgrades that we’ve ever seen” in a single quarter.
The obvious reason for this seems to be pent-up demand for the iPhone 12 lineup, which of course added the 5G support that many users were waiting for, along with a new design, and a smaller iPhone 12 mini that at least some had also been holding out for.