One number jumped right out of the Apple Q3 Summary Data this afternoon: the fact that iPhone unit sales were only up 1 percent year over year, but revenues were up 20 percent. Why is that important? It’s showing that the iPhone X is having an incredible impact on iPhone revenues.
The average selling price of iPhone X is higher than the other models, and even with almost stalled growth in sales numbers year over year, that pumps up revenues. Considering the rumored release of several iPhone X-like models this fall, that indicates that average selling price will continue to be a leading factor in keeping the company’s revenues climbing.
Apple CFO Luca Maestri noted that ASP for iPhone has climbed from $608 to $724 in one year, which seems to show that the high satisfaction rate for iPhones are driving demand despite higher prices.