Apple’s Series 3 smartwatch is selling at twice the volume of last year’s model.
Reporting on its fiscal 2018 first quarter ended December 30, 2017 results, the Cupertino outfit revealed its latest timepiece is flying off the shelves. The Apple Watch saw a 50% growth in units and revenue for the fourth quarter in a row.
The wearable slots into the company’s “Other” category, which also includes Apple TV, Beats, iPod, and Apple-branded and third-party accessories. This section saw a near-70% growth year on year, hitting $5.5 billion.
“It was our best quarter ever for the Apple Watch, with over 50% growth in revenue and units for the fourth quarter in a row and strong double-digit growth in every geographic segment,” Apple CEO Tim Cook said.
It is not exactly clear what is causing such a large upswing in Apple Watch sales, as the only real difference is the inclusion of LTE and a barometric altimeter. Perhaps the fact that you can now call, send a text, and stream music without your smartphone is making all the difference. But whatever the case, it means that wearables are now the second largest contributor to revenue growth after the iPhone.
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This was the biggest quarter in Apple’s history. Quarterly revenue came in at $88.3 billion, an increase of 13% compared to a year ago. Net income was up 12% to $20 billion.
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