Last Tuesday, Apple presented its financial results for its first half of the year, in which profits fell 7%, affected by the fall in iPhone sales, which were partially cushioned by a record turnover in its services area.
In total, Apple earned between October and March 31,526 million dollars on revenues of 142,325 million (4.75% less), of which more than half came from the iPhone (58.3%), followed by services (15.7%), Mac computers (9%), wearable technology, watches and accessories (8.7%) and iPads (8.2%).
The trends between the two main sources of revenue, however, are completely opposite: while iPhone sales declined 15.8% year-on-year because of the saturation of the global mobile market and the slowdown in China, service revenues grew 17.6% to a record $22.325 billion. This last figure was the one that the company’s managers made the most effort to highlight on Tuesday, as services are Apple’s great bet for the future, which until now had always focused much more on hardware. “Our results show the strength of our base of 1.4 billion active devices, as we have achieved a record in terms of services,” said the company’s CEO, Tim Cook.
As part of this strategy, on 25 March the company presented new subscription services for three different areas: television (Apple TV+ and Apple TV Channels), news (News+) and video games (Apple Arcade).