What crisis? Apple reports bumper revenue from iPhone 13 sales despite supply chain woes

Apple has reported its biggest quarterly earnings ever, driven by the holiday shopping season. Topping all previous record-breaking quarterly earnings, Apple's Q1 2022, also called the holiday quarter, became its most important with a record revenue of $123.95 billion, up 11 per cent year over year. The profit earned stands at $34.6 billion with earnings of $2.10 per share, which is again a record and way beyond market expectations. This historic feat comes at a time when the entire electronics manufacturing industry is reeling from the components and supply chain crisis, making Apple just unshakeable.

The iPhone 13 drove the maximum sales this quarter. While Apple does not reveal the number of units it sells, it gives a clear demarcation in revenue by category. The iPhone made Apple $71.63 billion, a jump of 9 per cent year over year, this quarter, thanks to bumper sales of the latest flagship iPhone models, iPhone 13, iPhone 13 mini, iPhone 13 Pro, and iPhone 13 Pro Max. Other categories, too, showed growth in sales.

• $10.85 billion: Mac (up 25 per cent year over year)
• $7.25 billion: iPad (down 14 per cent year over year)
• $14.70 billion: Wearables, home, and accessories (up 13 per cent year over year)
• $19.5 billion: Services (up 24 per cent year over year)

The iPhone 13 series was not a major upgrade to the iPhone series, but still subtly improved. Features such as better cameras with tools like Cinematic Mode, a new design, and ProMotion displays managed to convince buyers, giving Apple the biggest push in revenues and profits. The iPad and Macs got better M1 processors and design changes in favour of the creator industry, which ultimately translated into better sales.

"This quarter's record results were made possible by our most innovative lineup of products and services ever," said Tim Cook, Apple CEO. "We are gratified to see the response from customers around the world at a time when staying connected has never been more important."

This year Apple is going to be even busier. Bloomberg has reported that while Apple may kick off its 2022 events with the launch of the iPhone SE+ 5G, a new iPad Air, and possibly a Mac in spring (March or April), the fall event (September or October) will be its biggest ever. Apple is reportedly planning to launch a series of products, including the iPhone 14 models, new iPad Pro and iPad models, a new Mac Pro model, new AirPods Pro model, and new MacBook models. Not just the refreshed lineup, Apple is also reported to be working on its first AR/VR headset, which it may launch later this year, however, with limited stock.