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Apple now has 825 million paid subscriptions across services

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Apple delivered record-breaking services revenue with more than 825 million paid subscriptions across Services, up 165 million in the last one year. The Cupertino based tech giant said that its Services revenue reached $19.8 billion — a 17 percent increase (year-over-year). Apple’s Services category includes App Store, Apple TV+, Apple Music, cloud services. Also Read – Apple iPhone 14 price revealed in new leaks: Here are the details

During the last 12 months, the company generated $75 billion in Services revenue. Also Read – Chip shortage, Covid costed up to $8 billion to Apple: CEO Tim Cook

“These impressive results reflect the impact of our continued investment in improving and expanding our services portfolio and the positive momentum that we’re seeing on many fronts,” Luca Maestri, Apple’s CFO, said in an earnings call. Also Read – Apple delivers strong quarter, thanks to iPhone 13, Mac and accessories demand

The company highlighted a few of its recent achievements in the services category, including Apple TV+ becoming the first streaming service to win an Academy Award for Best Picture, for its movie “Coda.” Apple also said its Apple TV+ shows had earned over 240 awards and more than 960 nominations to date.

Apple also sold iPhones worth $50.6 billion in its March quarter — a 5 percent increase year over year. Macs saw big jump and the revenues were up 15 per cent to $10.4 billion.

“This quarter’s record results are a testament to Apple’s relentless focus on innovation and our ability to create the best products and services in the world,” said Tim Cook, Apple’s CEO. “We are delighted to see the strong customer response to our new products, as well as the progress we’re making to become carbon neutral across our supply chain and our products by 2030. We are committed, as ever, to being a force for good in the world — both in what we create and what we leave behind.”

Apple posted a record revenue of $97.3 billion for its March quarter, up 9 per cent year-over-year, with a net profit of $25 billion. The company set an all-time revenue record for Services and March quarter revenue records for iPhone, Mac, and wearables, home and accessories.

Meanwhile, Apple’s contract manufacturers – Pegatron, Wistron and Foxconn – are expected to manufacture iPhones worth Rs 47,000 crore in India in fiscal year 2022 – 2023. Of this figure, Wistron is expected to manufacture iPhones worth Rs 27,000 crore, while Pegatron and Foxconn are expected to manufacture iPhones worth Rs 12,000 crore and Rs 8,000 crore respectively.

(With inputs from IANS)





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