Sales of iPhones for the first time since 2012 brought Apple less than half of revenue for the quarter

Now the company earns more on services and wearable electronics like the Apple Watch and AirPods.

Apple’s quarterly revenue from 2011 to 2019 excluding iPhone Quartz illustration

In the third fiscal quarter of 2019, iPhone sales amounted to $ 25.9 billion – they brought Apple less than half of total revenues. The company received the remaining $ 27.9 billion from wearable services, as well as from Mac and iPad. This is stated in the financial report of Apple.

The largest increase was shown by the combined category of wearable, home electronics and accessories. Revenue from it increased to $ 5.5 against $ 3.7 billion a year earlier.

In a speech to investors, Tim Cook said that “wearable electronics” copes very well. Apple’s chief financial officer, Luca Maestri, added that revenue from this category alone could create a Fortune 200 company.

Revenues from services grew by 13% and again broke a historical record, revenue from Mac sales increased by 11%, and from the iPad – by 8%. According to the head of Apple, for the company it was “the largest June quarter in history.”

In recent years, Apple has tried in every way to reduce the dependence of revenue on the iPhone. The company even ceased to publish specific numbers of devices sold to avoid speculation.

For the remaining half of 2019, Apple has scheduled launches of at least two new subscription services Apple TV + and Apple Arcarde, as well as an update to the line of iPhones. In addition, in the summer, the company should launch a virtual bank card created jointly with Goldman Sachs.

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