iPhone 16 launch quarter saw record shipments and ASP – report

We already knew this Apple 4th fiscal quarter (3rd calendar quarter) quarter set a new revenue recordbut some details are missing. New report says revenue reflects record iPhone shipments and the highest ever average selling price (ASP) achieved for the iPhone line.

Counterpoint Research has shared data from its latest Market Monitor report…

iPhone 16 launch quarter sets new record

Apple reported its earnings back in October last year and said it set a new revenue record for the September quarter.

Apple released earnings for the fourth quarter of fiscal 2024. The company reported revenue of $94.93 billion for the three-month period, up 6% year over year. This sets a new revenue record for September. By comparison, Apple’s revenue for the same quarter last year was $89.5 billion.

The company said this included iPhone revenue growth of 6% year over year.

Record deliveries and ASP, says Counterpoint

Since the company long ago stopped disclosing actual sales data, we didn’t know whether the increase in revenue was due to higher sales volumes or a higher average selling price, but Study of counterpoint says it was a mixture of both.

Apple led the pack in revenue and recorded its highest-ever shipments, revenue and average prices for the third quarter. […] Apple led the way in revenue and recorded its highest-ever shipments, revenues and average prices for the third quarter (calendar year).

We still don’t know relative the importance of these two factors, but in the entire smartphone industry as a whole, the increase in ASP has played a big role.

Global smartphone shipments grew 2% YoY in Q3 2024. Global smartphone revenue grew 10% YoY, driven by a 7% increase in average price.

Thus, relatively modest growth in sales, but greater growth in average expenses.

Graphics: Counterpoint