Following Apple’s record-breaking Q2 2022 earnings report, Apple CEO Tim Cook spoke to CNBC to provide some additional details. During the quarter, the iPhone attracted a “record level” of upgrades, Cook said, and the number of people switching from Android to iPhone also rose.
Speaking to CNBC, Cook said the iPhone 13 cycle has been “clearly a strong cycle” for Apple. iPhone revenue rose from $47.88 billion in the same quarter last year to $50.57 billion in the second quarter of 2022, up 5% year-over-year.
CNBC reports:
Apple CEO Tim Cook said the iPhone business had a successful quarter with “switches,” or people who previously had an Android phone but decided to buy an iPhone.
“We had a record level of updates during the quarter and increased the number of switches, a strong double-digit number,” Apple CEO Tim Cook told CNBC’s Steve Kovacs. “This is clearly a strong cycle,” Cook said.
Apple no longer reports sales of its products, so we don’t know how many iPhone units Apple sold in a quarter. It’s also important to note that the rise of the iPhone has come amid ongoing supply chain issues, though Apple has weathered that struggle relatively well with the iPhone.
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Apple also said its active install base across all product categories reached a new all-time high in the second quarter of 2022.
You can find our full breakdown of Apple’s earnings right here.
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