Apple Ships a Record 78.2m iPhones at a Record ASP of US$695
February 07, 2017
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Apple shipped a record 78.29 m iPhones in Q416, up 5% Y/Y and 72% Q/Q beating the 74.78 m sold in 1Q16 and 74.47 m sold in 1Q15. The iPhone's average selling price (ASP) is doing spectacularly well, jumping to $695, beating the $691 of 1Q15, and a massive jump from the $618 that is was in 4Q15, a clear sign that the iPhone 7 is selling strongly, and that the higher-priced iPhone 7 Plus is also going well. It's also an indication that the drag that the lower-priced iPhone SE was having on sales is no longer an issue and that the price of the iPhone 8 and its OLED display will not be an issue for Apple customers. Apple now has now sold almost 1.8 b iPhones since 2007 as shown in the next two charts.
 
Figure 1 Apple’s Quarterly and Cumulative Shipments of iPhones

 Source: Company
 
On the iPad front things are not so good. Sales of 13.1 million are weak, down 19% percent Y/Y, and suggesting that the iPad Pro is doing little to reinvigorate sales. It's also indicative that the much-anticipated iPad upgrade cycle hasn't, as yet, kicked off. The iPad's ASP has also fallen through the floor, crashing to $423 from $460 on 4Q16 and $490 in 3Q16. Not only are people buying fewer iPads, the ones they are buying re the low-end, budget iPads. Cumulative iPad sales are ~400 m.
 
 
Figure 2 Apple’s Quarterly and Cumulative Shipments of iPads

Source: Company

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