iPhone Sales Dip, But Mac, iPad and Services Perform Well Despite Supply Chain Challenges

Apple’s Q4 2022 Financial Report: $117.2 Billion in Revenue but iPhone Sales Decline by 8%

Despite Global Economic Hurdles, Apple’s Total Active Devices Reach 2 Billion

Apple’s financial results for the last quarter of 2022 showed a total revenue of $117.2 billion, a 5% decrease from the previous year. Despite iPhone sales contributing to most of the revenue, the iPhone sales saw an 8% drop due to supply chain issues and cautious consumer behavior amid the global economy.

The company had warned in November that the iPhone 14 Pro and Pro Max would have a longer wait time due to the protests at Foxconn, Apple’s manufacturing plant in China. Mac sales also decreased by nearly 29%, although the newly redesigned MacBook Pro in October 2021 saw a positive sales performance.

However, iPad revenue saw a significant increase of 30% following the release of a base iPad model, and service revenue also rose by 6%. CEO Tim Cook announced that there are now over 2 billion active Apple devices worldwide.

Looking ahead to 2023, Apple is set to launch a virtual reality device called Reality Pro and the iPhone 15 may switch to USB-C. The company may also allow for external app installations starting with iOS 17 in the Fall.