Apple announced another exceptional quarter and once again, iPhone was the company’s star product. Out of $124 billion in record revenue, iPhone sales accounted for $71.6 billion with a 9% growth.
At the Q1, 2022, earnings conference Apple’s CEO Tim Cook and CFO Luca Maestri shared that despite supply constraints iPhone sales impressive sales worldwide because of strong demand for iPhone 13 series.
iPhone customer satisfaction in the U.S. has reached 98% in 2021
iPhone 13 series features an improved camera system and battery, along with other advanced technologies, which was a massive hit with consumers worldwide. In China alone, Apple sold over 40 million units during the Holiday season. Now, the company says that owing to the latest flagship series, customer satisfaction has reached 98%.
iPhone revenue grew 9% year over year to an all time record of 71.6 billion despite supply constraints. Thanks to a remarkable customer response to our new iPhone 13 family, we set all time records in both developed and emerging markets, reached an all time high in the iPhone active installed base and the latest survey of US consumers from 451 research indicates iPhone customer satisfaction of 98%.
An iPhone has never been more popular. During the December quarter, we set an all time revenue record for iPhone thanks to the strength of our incredible iPhone 13 line up. This is the best iPhone line up we’ve ever had and the reaction from the press and our users have been off the charts.
The top executives also shared that the entire product category, except for the iPad, saw growth with $104.4 billion in revenue.
The product side revenue was 104.4 billion, up 9% over a year ago. Product gross margin was 38.4%, up 410 basis points sequentially, driven by leverage and makes services. Gross margin was 72.4% of 190 basis points sequentially, mainly due to a different mix.
Despite significant supply constraints, we grew in each of our product categories except iPad, where supply constraints were particularly pronounced, and set all time records for iPhone, Mac and wearable and home accessories. The strong level of sales performance, the unmatched loyalty of our customers, and the strength of our ecosystem have driven our current installed base of active devices to a new all time record of 1.8 billion devices.