While it was previously established that Apple’s fiscal Q4 (calendar Q3) showcased a record in revenue, some specifics were still under wraps. A recent report now indicates that this revenue surge was fueled by record iPhone shipments and the highest average selling price (ASP) ever recorded for the iPhone lineup.
Counterpoint Research released insights from its latest Market Monitor report …
iPhone 16 launch quarter hits a new benchmark
Back in October, Apple reported its earnings, announcing a new revenue milestone for a September quarter.
In its earnings report for fiscal Q4 2024, Apple announced a revenue of $94.93 billion over the three-month span, marking a 6% growth year-over-year. This figure sets a new benchmark for revenue in September quarters. By comparison, Apple generated $89.5 billion in the same quarter previous year.
The company also noted a 6% year-over-year increase in revenue generated from iPhones.
Counterpoint highlights record shipments and ASP
As Apple no longer discloses specific unit sales, it was unclear if the revenue growth was due to an uptick in sales volume or a higher average selling price. However, Counterpoint Research asserts that both factors contributed significantly.
Apple led in revenue generation and achieved its highest-ever shipments, revenues, and ASPs for the third quarter […] Apple emerged as the leader in revenue, documenting its highest-ever shipments, revenues, and ASPs for a third quarter (calendar year).
The precise impact of these two elements remains uncertain, but overall in the smartphone sector, the increase in ASP had a more significant effect.
Global smartphone shipments rose by 2% YoY in Q3 2024, with global smartphone revenues surging by 10% YoY, attributed to a 7% rise in ASP.
This indicates a slight rise in sales but a notable increase in average spending.
Graphic: Counterpoint
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