According to iPhone, it has had the record-high revenue generated from the Chinese market for the fourth quarter of the year 2020. The tech giant has reported that it has recorded the highest number of iPhone upgrades in the Chinese region. As confirmed by iPhone, the Chinese region is one of the most important and major markets for the tech giant.
iPhone revealed that just from the Chinese region, it was able to generate $21.31 billion worth of revenue for the last three months of 2020. The tech giant has revealed that the revenue generated in the 4th quarter of 2020 is 57% more than what it generated for the same quarter in 2019.
While talking about the particular quarter, iPhone claimed that it has been the all-time high revenue-generating quarter for the company in the Chinese iPhone history.
The firm also revealed that the 4th quarter of 2020 has turned out to be the highest ever in generating overall revenue for the company in 2020.
The CEO of Apple Tim Cook also talked about the performance of the iPhone in the Chinese region. He stated that iPhones are not the only product that has helped the company generate such high revenue. There were other products from the Apple Company that helped it boost its sales in the entire region of China.
However, it was the iPhones that played the key role in boosting the revenue for the company in the region for the 4th quarter of 2020. The iPhones have played a crucial role in making sure that the company manages to hit an all-time high quarter for China in the history of the iPhone.
Apart from the revenue, iPhone also reported that it has recorded the highest number of upgraders. The upgraders also belong to the Chinese region and were recorded for the same quarter of 2020.
Cook stated that the company believes that there might be one factor that played a huge role in boosting upgrades for iPhones. He stated that the company believes that the majority of the iPhone users delayed purchasing new iPhones because they were hearing rumors of another iPhone.
They must be under the impression that the iPhone may be launching another iPhone towards the end of the year 2020 and that may have resulted in users not upgrading their phone.
He also clarified that Chinese is one of the major regions with the most advanced technologies. China is already well established when it comes to telecommunication technologies and also has the 5G technology.
He stated that the majority of the iPhones being sold in China are indeed 5G supported. This could be the reason why the Chinese iPhone users delayed the purchases as they were waiting for the new 5G iPhone to come out.