"Since we split the line with the launch of iPhone 6 and 6 Plus back in 2014, this is the first cycle that we've ever had where the top-of-the-line iPhone model has also been the most popular", Cook said.
"Customers chose iPhone X more than any other iPhone each week in the March quarter, just as they did following its launch in the December quarter", Apple CEO Tim Cook said in a statement. Mac sales, however, were down 3% to just over 4 million. It also sold more iPads year on year 9.1 million compared to 8.9 million during the same period in 2017. Apple said it sold 52.2 million iPhones alone to the tune of $38 billion bringing the iPhone revenue up 14% from the same quarter past year.
That helped the company earn almost $14 billion in its fiscal second quarter, a 25 percent increase from a year ago. The silver lining continues to be the services division, which is growing faster than ever predicted.
Apple has posted impressive second quarter results that have allayed market fears that its principle cash cow, namely the iPhone, was slowing down. The services division includes revenue from products like App Store, Apple Music, iCloud, Apple Pay, Apple Care and other services. An expanding Chinese market has helped up drive revenues.
The iPhone is Apple's most important product, resulting in about two-thirds of sales for the company.
Merkel: Europe Will Push Back If Hit With Trade Tariffs
If it comes to that, I hope that we as the European Union can come to agreement very quickly on a common and clear position. Mr Trump responded by calling for further U.S. tariffs against China, escalating trade tensions between the two giants.
An average iPhone was sold for $728 during the quarter, up from $655 a year ago, said CFO Luca Maestri during the investor call. Elsewhere, Japan grew by 22%, the Americas by 17%, Europe by 9%, and Asia-Pacific by 4%.
Even if Apple does make headway in India or China-still its largest worldwide market-there's no guarantee its hardware partners can share in the spoils, given the United States company's reputation for squeezing suppliers to preserve its own margins.
"India, we set a new first-half record. Our objective over time is to go in there with all of our different initiatives from retail and everything else", said Cook during the company's earnings call.
Apple previously promised to hire 20,000 more workers during the next five years, including some at a planned new campus in a still-to-be-identified U.S. city outside California. Cook also said that the iPhone X was the top-selling phone in China, presumably citing third-party statistics.
Along with the new authorization, the Board of Directors has also approved a 16% increase in the company's quarterly dividend.