Apple logs $65.8 bn in iPhone revenue as China disruptions hit supply

Apple faced supply chain disruptions in October and November as China faced Covid surge and protests erupted at its key supplier Foxconn's main factory in the country

Apple
Photo: Bloomberg
IANS New Delhi
2 min read Last Updated : Feb 03 2023 | 2:50 PM IST

Apple reported $65.8 billion in revenue for iPhones in the holiday quarter, down 8 per cent (year-over-year).

However, on a constant currency basis, iPhone revenue was roughly flat, according to the company.

Apple faced supply chain disruptions in October and November as China faced Covid surge and protests erupted at its key supplier Foxconn's main factory in the country.

Cook said that Covid-related challenges "significantly impacted the supply of iPhone 14 Pro and iPhone 14 Pro Max and lasted through most of December".

"Because of these constraints, we had significantly less iPhone 14 Pro and iPhone 14 Pro Max supply than we planned, causing ship times to extend far beyond what we had anticipated," he noted.

Cook said that as a result of a challenging environment, "our revenue was down 5 per cent year over year".

"But I'm proud of the way we have navigated circumstances, seen and unforeseen, over the past several years, and I remain incredibly confident in our team and our mission and in the work we do every day," he said in an earnings call with analysts.

"Our customers continue to rave about the astounding camera capabilities and unprecedented battery life and the groundbreaking suite of health and safety features. The iPhone 14 lineup pushes the limits of what users can do with a smartphone," he added.

During the quarter, Mac revenue came in at $7.7 billion, which was in line with what Apple had expected.

During the quarter, iPad revenue grew 30 per cent to a total of $9.4 billion.

--IANS

na/dpb

 

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Smart Quarterly

₹900

3 Months

₹300/Months/month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Months/month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Unlimited access to all articles

  • 30+ premium stories daily, handpicked by our editor

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio

  • Wirecutter & The Athletic

Complimentary Access to Our e-Paper

  • Digital replica of our daily newspaper

  • Read, save, share any article

Curated Newsletters on Diverse Topics

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Smart Investment Tips

  • In-depth stock analysis & insights

  • The Smart Investor for wealth growth tips

Access to Extensive Historical Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading Experience

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Repository of articles and publications dating back to 1997

More From This Section

Topics :Apple IncApple iPhonesChina

Gold price in Delhi today is ₹ 84,470, Click Here for other cities. Silver price in Delhi today is ₹ 84,470, Click Here for other cities.

First Published: Feb 03 2023 | 2:50 PM IST

Subscribe to read without limits
Subscribe Now
Next Story