Apple’s wearable segment is going from strength-to-strength. Apple CEO Tim Cook used his company’s latest earnings call to confirm that the wearables category has set a new quarterly revenue record, in spite of the current global pandemic that has redefined what normal is to most of the world.
Many analysts and interested parties from all over the globe would love to know exactly how much revenue Apple is generating on a product-by-product basis, especially when it comes to hardware like the Apple Watch.
However, Apple chooses not to report on that basis and instead puts various products together into a “Wearables, Home, and Accessories” segment that it can then report on as a collective set of products and services. This category includes products like Apple Watch and the globally popular AirPods range.
During the company’s latest Q2 2020 earnings call, Apple Inc. reported revenues of $6.3 billion for that particular category. During the same quarter in 2019, that same category reported revenues of $5.1 billion, an increase of $1.2 billion from the same period last year.
That revenue figure may look like a relative drop in the ocean in context to Apple’s overall reported revenues for the quarter but it’s not only impressive due to the huge increase over the same period last year but also due to the fact that the “Wearables, Home, and Accessories” segment brought in higher revenues than the Mac and iPad segments during the same period. Apple’s Mac category reported revenues for Q2 2020 of $5.4 billion and it’s iPad category trailed slightly behind with revenues of $4.4 billion.
Interestingly, although Apple doesn’t report specifically on revenues for Apple Watch, the company did give an insight into its userbase by reporting that 75% of those Apple Watches purchased during the period were bought by consumers who were new to the product line.
During the same call, Apple reported that its total revenues grew with revenues from its Services sector rising to a new “all-time” high of $13.3 billion, despite “COVID-19’s unprecedented global impact.” You can read more about Apple’s latest earnings call over at Apple Newsroom, which includes additional information on Apple’s charitable efforts and how the company is contributing to the current global pandemic.
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