© IE Online Media Services Pvt Ltd
Tags:
Journalism of Courage
Sales of the new iPhone 11 lineup are off to a “very, very good start”, Apple CEO Tim Cook said on Wednesday. In an interview with Reuters after Apple released its fourth-quarter financial results, Cook said the strategy to launch the iPhone 11 at $699 has helped the tech giant to reach out to new users especially in China, Apple’s most crucial market. The latest iPhone 11 series, including the iPhone 11, iPhone 11 Pro and iPhone 11 Pro Max, were released during the company’s high-profile event in early September.
Even though Apple’s latest Q4 2019 earnings cover only the first two weeks of iPhone 11 sales, the numbers paint a positive picture on the initial uptake of iPhone 11 in major smartphone markets, including India where the device was out of stock during the festive season due to heavy demand.
While global smartphone sales started to mature in the US and China, the success of the iPhone 11 has surprised many, especially investors and trade analysts.
This year’s entry-level iPhone’s price may be enough to prompt many Apple customers to upgrade from old iPhone to a new iPhone 11. The base model of the iPhone 11 starts at $699, which is $50 less than last year’s iPhone XR’s $749 price tag. The device offers two cameras on the back and excellent battery life.
Also read| Apple sets new Q4 records in India, Cook says ‘locally relevant prices’ helping
Despite the growth registered in its services business, Apple is still heavily dependent on iPhone sales which make up over half of its quarterly revenues. iPhone’s revenue for the Q4 2019 was down 9 per cent year over year, but up from the third quarter. Apple reported iPhone revenue of $33.62 billion for its fiscal fourth quarter.
