Apple iPhone 12 Pro Max and iPhone 11each had a leading 23% of iPhone revenue during the fiscal third quarter of 2021
Josh Lowitz, CIRP Partner and Co-Founder said, “Apple did very well as it emerged from the COVID-19 pandemic. Increased consumer spending correlated with consumers shifting to more expensive iPhone models as they retired older phones and shopped more at Apple’s own retail locations to buy those iPhones. As a consequence, we estimate that US-WARP (Weighted Average Retail Price), the analogue to Average Selling Price that Apple no longer discloses, rose in the quarter.”
Mike Levin, CIRP Partner and Co-Founder, weighed in with his findings. He says, “For the first time in many quarters, consumers traded in somewhat newer phones. We ask consumers about the age of their previous phone, and in the quarter, we saw the share of phones that were three years old or greater decrease. In the quarter, it looks like iPhone buyers traded in fewer older phones and opted for more expensive iPhone models as they upgraded.”
We should point out, although you probably know this by now, that the iPhone 12 line is the first from Apple to support 5G connectivity. Interestingly, the two top selling iPhone models in the quarter, both with 23% of sales, were the iPhone 12 Pro Max and the iPhone 11. The weakest selling models, both with a 5% share of iOS handsets rung up during the period, were the iPhone 12 mini (no surprise there) and the iPhone XR.