While it was already known that Apple achieved a record revenue milestone in its fiscal Q4 (which corresponds with the calendar’s third quarter), recent insights have shed light on specific details. An updated report highlights that the revenue surge stemmed from unprecedented iPhone shipments and the highest average selling price (ASP) the brand has recorded for its iPhone models.
Data from Counterpoint Research was unveiled in their latest Market Monitor report …
The Launch of the iPhone 16 Sets New Records
In October of the previous year, Apple announced impressive earnings, reaffirming a record-setting revenue performance for the month of September.
Apple’s earnings report for fiscal Q4 2024 disclosed a revenue of $94.93 billion for the quarter, reflecting a 6% increase from the previous year. This accomplishment establishes a new revenue benchmark for a September quarter. For comparison, the same quarter in the prior year saw revenues of $89.5 billion.
Furthermore, the company reported a specific 6% growth in iPhone revenue compared to the previous year.
Counterpoint Reports Record Shipments and ASP
As Apple has phased out the practice of disclosing actual unit sales, it was unclear if the revenue increase was driven by a surge in sales or an elevated average selling price. However, findings from Counterpoint Research indicate a blend of both factors.
Apple emerged as a leader in revenue generation, recording its highest-ever shipments, revenues, and ASPs for a third quarter (calendar year) […] With record achievements, Apple led the pack in revenue, shipments, and ASPs.
Though the specific contributions of these factors remain unclear, across the broader smartphone market, an increase in ASP appeared to be more significant.
In Q3 2024, global smartphone shipments saw a 2% year-over-year increase, while global smartphone revenues rose by 10%, attributed to a 7% increase in ASP.
This signals a modest rise in unit sales but a more substantial jump in average expenditure.
