Apple Saw Double Digit Growth in iPhone Upgraders and Switchers in Q3 2021
Apple experienced "strong double digit growth" in the number of iPhone users who were upgrading an older device or swapping to an iPhone from an Android device, Apple CEO Tim Cook said during today's earnings call covering the third fiscal quarter of 2021.
Cook said that it was the largest upgrade quarter for Q3 ever, and that the iPhone 12 upgrade cycle on the whole was "very strong." Sales of the iPhone 12 Pro and the iPhone 12 Pro Max were "particularly strong."
Going forward, Cook said that Apple feels "really good" about the future of the iPhone because 5G penetration remains "very low" and there's a lot of opportunity for sales growth in the 5G market. "We're in the very early innings of 5G," Cook said. "There are only a couple countries that are in the double digits."
The high number of new iPhone users and iPhone users upgrading to new models drove record sales momentum, with the iPhone ultimately bringing in $39.6 billion during the quarter.
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Once again, a whole bunch of nothing but empty vessels.