Apple hits 2 billion active devices worldwide

Apple recently released its Q1 2023 results, reporting revenue falling to $117 billion, down 5% from the previous fiscal’s record-breaking Q1 of $123.95 billion. Despite this setback, the tech giant is proud to share the good news of reaching the 2 billion device milestone, with its installed base growing steadily.

Furthermore, the company’s Services sector has reached new heights with a revenue record of $20.8 billion, surpassing the estimated $19.5 billion. This was achieved despite a year with a troubled macroeconomic environment and significant supply constraints. iPhone sales boosted the company’s total revenue on a constant currency basis. This achievement was driven by 935 million paid subscriptions, an increase of 150 million year-over-year.

Apple CEO Tim Cook and CFO, Luca Maestri, attribute the growth of the installed base to high customer satisfaction and loyalty, along with a record number of guests. shipments to Apple from competitors, such as Samsung . The company’s Services sector also saw significant growth, setting an all-time revenue record, despite a challenging macroeconomic environment and supply constraints.

Apple’s chief financial officer, Luca Maestri, expressed delight with the results. He stated that the company generated $34 billion in cash from operations and returned more than $25 billion to shareholders during the quarter while continuing to invest in its long-term plans for growth and extend.

Sales of high-end smartphones have increased in various smartphone manufacturers, which makes sense since the majority of Apple’s smartphone lineup is in the high-end segment. It is worth noting that Apple’s install base has grown by 100-150 million new devices every year since 2019 and has doubled from 1 to 2 billion in just 7 years, which is a testament to the impressive growth. corporate image and customer satisfaction.