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Apple sold 41.02 million iPhones in Q3 2017, down 19% QoQ

Apple CEO Tim Cook said during an analyst call that the company has sold 1.2 billion iPhones till date since the launch of the first model 10 years ago. This is up from the 1 billion iPhones that the company sold exactly a year ago. During the quarter ended June 2017 (Q3 2017), Apple sold 41.02 million iPhones, which is down by 19% when compared to 50.76 million units in the previous quarter. iPhone sales generated revenues of $24.84 billion in Q3 2017, up marginally by 3% from $24.04 billion a year ago. On a QoQ basis, iPhone sales were down by 25% from $33.24 billion. Luca Maestri, CFO of Apple Inc said during the call that the company “reduced iPhone channel inventory by 3.3 million units, leaving us with our lowest level of channel inventory in 2.5 years”. Average Selling Price (ASP) of an iPhone was at $606 during the quarter, up from $595 a year ago. Maestri credited the increase in ASP to “to strong demand for iPhone 7 Plus, which represented a higher percentage of the iPhone mix compared to the Plus model a year ago.” Other device and software updates from the con-call: On iPad Sales The iPad has witnessed double-digit sales growth in many geographic segments like U.S., Japan, Germany, France, and Greater China, according to Maestri. “We achieved our highest global market share in over four years based on IDC's latest estimate of tablet market results for the June quarter. And in markets like…

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