The iPhone 12 Isn’t Slowing Down
Even with the iPhone 13 on the horizon, it appears that Apple can’t make iPhone 12 models fast enough to keep up with insanely high levels of customer demand.
In fact, Apple saw its largest upgrade Q3 ever, according to CEO Tim Cook, who said that sales were strong across almost the entire iPhone lineup, led by the iPhone 12.
Not surprisingly, Cook remained quiet on the iPhone 12 mini, which by all reports has continued to be a disappointment to Apple, but it’s clear that sales of the rest of the iPhone 12 lineup are more than making up for it.
Cook also added that this is just the beginning, and that iPhone sales growth will only increase as 5G gets rolled out more widely across the globe, driving more upgrades to the latest 5G-capable iPhones. “We’re in the very early innings of 5G,” Cook said.
What’s notable here is that Q3 is normally the slowest season for iPhone sales, and analysts were only expecting Apple to post around $73 billion in revenue as a result. In the same quarter last year, Apple only posted $26.4 billion in iPhone sales, which was a mere 1.7% increase over Q3 2019, which actually saw an 11.8% decrease from Q3 2018.
In most third quarters, iPhone sales have seen only single-digit year-over-year growth, so growth in sales by almost 50% this year is absolutely astonishing.