The iPhone recorded more than $65 billion in revenue for Apple in the December 2020 quater, and a lot of that came from China — overall quarterly revenue in the region was up nearly 57% over last year. “We saw both switchers and upgraders [of iPhone] increase on a year-over-year basis. And in fact, we saw the largest number of upgraders that we've ever seen in a quarter,” CEO Tim Cook said during a call with investors on Wednesday. A lot of the buyers of the 5G-enabled iPhone 12 lineup came from China, where the 5G network is well established, he added. Apple is also expecting a slowdown in growth in its Wearables, Home and Accessories category in the upcoming March quarter, Apple’s CFO Luca Maestri said. “As you know, we were chasing demand on AirPods last year as we expanded channel inventory from Q1 to Q2. This year, we plan to decrease AirPods channel inventory as is typical after the holiday quarter,” Maestri said. In the September 2020 quarter, Apple doubled its business in India compared to the same quarter a year ago, the company’s CEO Tim Cook revealed during the same call. However, despite that growth, the company’s absolute level of business is “still quite low relative to the size of opportunity,” Cook added. Apple had launched an online store in India in the last week of December and had at the time said that it played a considerable part in the company’s strongest ever September quarter in…
