Apple Watch sales hit $1.7 billion; boosts Apple revenues

Apple announced stupendous growth in sales and revenue in its fiscal fourth quarter, primarily attributing it to the “expanded availability of Apple Watch". The company reported record fourth quarter revenues of US$51.5 billion (AU$72.6 billion) as compared to US$49.6 billion year-on-year.

More than 100 percent of the year-on-year revenue growth was fuelled by “Other Products,” mainly the new Apple Watch, according to the company's quarterly 10-Q filing with the U.S. Securities and Exchange Commission. Launched last April, Apple Watch was available in the market barely for five months of fiscal 2015, which ended on Sept. 26.

The 10-Q filing states that sales of other Apple products increased from $8.379 billion in 2014 to $10.067 billion in 2015, reported Venture Beat. This indicates the company has sold Apple Watches worth US$1.688 billion.

With revenue growing 28 percent to nearly US$234 billion, Apple has plans to further swell Apple Watch sales. The company also confirmed that international sales accounted for 62 percent of the quarter’s revenue.

Without disclosing any specific details, Apple mentioned that sales of Apple Watch increased considerably form the last quarter and exceeded internal expectations. In July, a report in Apple Insider said CEO Tim Cook confirmed that after its release in April, Watch sales reached its peak in June, surpassing iPads.

“We are heading into the holidays with our strongest product lineup yet, including iPhone 6s and iPhone 6s Plus, Apple Watch with an expanded lineup of cases and bands, the new iPad Pro and the all-new Apple TV which begins shipping this week,” said Cook in a media release.

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