Apple’s CEO Tim Cook revealed during the earnings call for Q1 2018 that the iPhone X sales have far exceeded the company’s expectations. He revealed the handset has been the “top selling iPhone” every week since its launch in November.
Even better for Apple perhaps, Cook said that the customer satisfaction with the iPhone X was “off the charts”, with Face ID being well received despite many raising concerns over it. Cook also said that the company’s 2017 iPhone lineup comprising of the iPhone 8, iPhone 8 Plus, and the iPhone X brought in the highest revenue ever for an iPhone lineup in its history. While Apple did not provide individual sales numbers, it did sell a staggering 77.3 million iPhones in Q1 2018.
During the call, Cook declined to answer a question surrounding Apple expanding the iPhone lineup to include two new models similar to the iPhone X. He did, however, say that with the iPhone X, Apple has set up development for the next decade of iPhones.
Impressively, Apple’s CFO Luca Maestri believes that iPhone revenue will continue to grow in double digits for the quarter ending March 2018 YoY. This is despite reports of Apple reducing iPhone X production to half due to weaker than expected demands.
With a $999 price tag, the iPhone X is certainly not cheap. Yet, the handset has far outsold other cheaper premium Android devices and even the iPhone 7 and iPhone 8 which shows that consumers are willing to pay a premium for its bezel-less design, Face ID, and other improvements. It is also interesting to see Apple believe that iPhone revenue will grow in double digits in Q2 2018 even after reporting a record-breaking Q1 2018 results.
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