Apple iPhone X Becomes World's Best-Selling Smartphone in Q1 2018

Apple Reports Second Quarter Results

Apple Reports Second Quarter Results

That would be a slight increase from the 50.8 million iPhones sold in the same quarter previous year.

Despite predictions it would be an overpriced flop, the iPhone X was the best selling smartphone of Q1 2018, new data has revealed.

Apple's tax break on its overseas profits is turning into a $102 billion boon for shareholders. The doubts of analysts have been kept at bay, at least temporarily. In fact, the top four handsets that were the most popular; all came from Apple. Nearly all the Android smartphones in the list are shipping in the global market which means they are available in all the markets worldwide.

In the coming months, Apple's iPhone X selling would come down as people would be having many more choices available. But the reaction was muted for most partners given the limited growth in iPhone sales. As Apple pointed out, the ASP was higher this quarter than it was a year ago.

Contrary to the controversy surrounding the high price of Apple's iPhone X, it turns out it was the best-selling smartphone model of last quarter, worldwide, on a unit-sales basis. So while the iPhone X helps boost iPhone ASP, so do the iPhone 8 and 8 Plus. Mr. Buffet also labeled Apple an "amazing" company. The iPhone X $999 starting price was too much for some consumers.

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iPhone X. Image source: Apple. But the lower ASP's in the fiscal second quarter suggest that perhaps the iPhone X is a smaller part of the whole than it was right out of the gate. Apple CFO Luca Maestri called it "a temporary event. that should unwind over time". The iPhone accounted for more than 60 percent of Apple's revenue a year ago. On the other hand, Apple shipped 12.5 million units of iPhone 8, which had a 3.6 percent share of the market, and the iPhone 8 Plus shipped 8.3 million units, and have 2.4 percent market share. "Given our confidence in Apple's future, we are very happy to announce that our Board has approved a new $100 billion share repurchase authorisation and a 16 per cent increase in our quarterly dividend". "Apple can support the stock as the investment thesis evolves from one of product cycle to services-led growth". How can the iPhone continue to defy gravity? Its price is expected to be close to $700, a price level that's proven successful for Apple in the past.

That seems pretty clear to me.

According to the rumors, the phone will have iPhone X like notch.

Apple could face stiff competition soon from Samsung, however.

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