After leaving Q1 2018 promoting the iPhone X as its best selling smartphone, Apple announced today that in the second fiscal quarter, the company contributed $ 61.1 billion in revenue, complying with its own projections. International sales accounted for 65 percent of the quarter's revenues, and 20 percent of the growth came from Greater China and Japan. Apple's fiscal quarter ended March 31, which means that the new Red 8 and 8 Plus iPhones that were added to the company's Product line (RED) were not counted, which some speculated were in part to attract customers. Asian markets where red is considered a prosperous color.
"Customers choose iPhone X more than any other iPhone every week in the March quarter," said CEO Tim. Cook said in a statement. Although he did not comment on the rumors of a cheaper iPhone X, the CEO did say that the diversity in product options is the reason why iPhones sell well in a saturated industry. "We will continue to provide different iPhones … for people to meet their needs."
Although iPhone sales have increased 14 percent in revenue year-over-year, Mac sales have been reduced with a 0 percent revenue change and sales sales decreased by 3 percent. The category of Other Apple products, which includes the HomePod that went on sale in early February, fell 28 percent since the last quarter. This time last year, the category fell 29 percent between quarters. "HomePod is widely recognized for having the best sound quality for its size and class," says Cook, avoiding concerns about HomePod sales. "We hope to add new features to HomePod."
As expected with most earnings reports now, Apple's services division remains one of the most lucrative, with 31 percent growth year-over-year and it is the only division that did not see decline sales since the last quarter.