Apple was one of the latest companies to post its earnings results for its most recent fiscal quarter, and iPhone sales were shared in that report. It wasn’t incredibly good news though. iPhone sales growth year to year for Q4 only amounted to 2.78 percent. It would seem the iPhone 15 lineup is selling a bit slower than Apple was hoping for in the time since its launch.
Apple reported on the latest stats of its iPhone sales alongside its Q4 2023 earnings results released this week on its investor relations website. In said results, Apple reported that its iPhone sales for Q4 2023 amounted to $43.805 billion USD. Compare this to Q4 2022 when the company put up $42.626 billion is sales. Q4 2023 only managed growth of about 2.78 percent over its previous year. Looking at full-year sales, Apple is actually down in the 12-month period leading up to Q4 2023’s end with around $200.6 billion in sales compared to Q4 2022’s 12-month $205.5 billion in sales.
Growth from year to year is arguably still growth, but this recent quarter's sales include the latest model release with the iPhone 15 line. The new smartphones brought a number of features, including swapping the Lightning port with USB-C ports, improved cameras, and titanium enclosures on the Pro and Pro Max models. It’s also worth noting that the iPhone 15 took a price-hike over its predecessors, making even the small growth that the iPhone metric saw in the previous quarter all the less impressive.
Are consumers cooling on the iPhone in 2023? It’s still selling, but if growth is the goal, Apple may have reason to be concerned. Stay tuned for more quarterly fiscal reporting as companies continue to share their earnings results.