Apple said theiPhone 12 Pro andiPhone 12 Pro Max sold the best during its most recent quarter.- Apple reported $65.6 billion in iPhone revenue in Q1, surpassing analyst estimates of $60.3 billion.
- Apple also saw a record number of people upgrading their iPhones last quarter, CEO
Tim Cook said.
Apple said the high-end models of its latest iPhones sold the best during its most recent quarter.
Apple reported strong earnings during its 2021 fiscal first quarter, beating Wall Street expectations and breaking its previous revenue record. The company reported $65.6 billion in iPhone revenue, surpassing analyst estimates of $60.33 billion.
During a conference call following the company's earnings, CEO Tim Cook said Apple's new
Read more: Apple TV+ may lag far behind its competition, but Apple is still winning at its own game
Apple unveiled its new devices in October, one month later than it typically takes the wraps off its new phones. The Pro models start at $1,000, but the new lineup also includes the $800 iPhone 12 and $700 iPhone 12 Mini, less-expensive versions of its luxury phones.
Cook said Apple also saw the largest number of people upgrading their iPhones than it's ever seen in any previous quarters.
Luca Maestri, Apple's chief financial officer, noted on the call that Apple did face, and continues to face, supply constraints when it comes to producing the Pro models, which it hopes to solve during the March quarter.
The iPhone 12 Pro and iPhone 12 Pro Max contain more advanced cameras, OLED displays, and a a Lidar sensor, which is able to build a depth map of a scene to aid with mapping, augmented reality, and photos and videos.
All of the devices in Apple's new lineup at 5G-enabled, which has been particularly beneficial in markets like China and South Korea, Cook said, which are further along in enabling 5G. Apple also saw a record number of upgraders to the iPhone 12 in China last quarter, he said.