Apple phones prices reaches sky and people demands phones . So it is not worth to expect that Apple will decrease prices anytime soon. While announcing financial results late Tuesday, Apple didn’t impress Wall Street with over the top iPhone sales.
Apple said it had sold 52.2 million iPhones during the first three months of the year. It is not far from recent analyst expectations of 52.3 million. “The iPhone X is a beloved product,” Apple CEO Tim Cook said on a post-earnings conference call with analysts.
He noted that since Apple first split its iPhone lines with the launch of the iPhone 6 and iPhone 6 Plus.” This is the first cycle we’ve ever had where the top-of-the-line iPhone model is the most popular,” he said.
The news is likely to squash speculation Apple could temper ever swell out iPhone prices. It would kill off the iPhone X. Apple CFO Luca Maestri said the X was Apple’s top seller and rejected the idea that it was too expensive.
Overall, iPhone revenues rose 14%, to $38.03 billion. Total sales rose 16% to $61 billion. It announced $100 billion in stock buybacks. Shares jumped 4% in early trading.
Although Apple doesn’t break down its iPhone sales by model, it does seem to have sold fewer of the pricier iPhone Xs and more of lower-cost earlier models than Wall Street had expected.
The average selling prices for iPhones in the second quarter was $728, compared with Wall Street expectations that fell between $740 and $742.
One of the Apple’s phones is expected to be a top of the line model to replace the X and two lower-priced units taking over the slots from the iPhone 8 and 8 Plus.