iPhone manufacturer Apple has set a record of over $100 billion in sales for the first time in the Q4 of 2020 on the back of increased sales of its new product iPhone 12.
Apple announced today (11/28) that it made $111.4 billion in sales in the fourth quarter of last year. The Wall Street Journal says it is the first time that quarterly sales have exceeded the $100 billion mark. It’s up 21% compared to a year ago.
Net profit rose 29 percent to 28.76 billion dollars. In terms of earnings per share (EPS), it was $1.68 USD. It is well over the $1.41 average expected by Wall Street analysts.
Apple sales soars for Q4 2020 as iPhone 12 released in the shopping seasons
The fourth quarter is where Apple earns 30% of its annual sales. It includes shopping seasons such as Black Friday and Christmas holidays.
In particular, Apple launched its first 5G iPhone this year, changing its design for the first time in three year. And the market predicted that iPhone sales would be in the major market due to large-scale replacement demand.
In fact, iPhone sales increased 17% to $65.6 billion. In China, where 5G networks have been distributed, iPhone sales have also been strong, helping to increase sales by 57%.
The WSJ says the average retail price in the U.S. rose to $873 from $809 a year ago as consumers looked for high-end iPhones.
According to the WSJ, Apple is turning its strategy around to raise the average unit price of iPhones. As the annual iPhone sales peaked at 231 million units in 2015 and entered a downward trend.
Telecommuting and remote classes, which became common with Corona 19, also boosted sales of other devices. Sales of Mac lineups, which are desktop and laptop products, rose 21% and tablet PC iPads rose 41%. The service sector, which Apple is using as a new growth engine, also saw a 24% increase in sales.
The WSJ wrote that Apple is one of many information technology (IT) companies in contrast to the millions of Americans who have lost their jobs due to the global pandemics crisis due to its large-scale performance.
