Apple's iPhone 14 Pro is still in short supply
Nov 07, 2022| Apple's iPhone 14 Pro is still in short supply
Recently, Apple officially released its fiscal fourth quarter 2022 results report. According to the results, under the condition that the iPhone14 series was advanced to September 16, the revenue and net profit during the period increased by 8% and 0.8% respectively.
For the three months ended Sept. 24, Apple reported revenue of $90.1 billion and net income of $20.7 billion. Compared to the same period last year, Apple's revenue and net profit in Q4 of fiscal year 2021, which ended on September 25, were $83.4 billion and $20.6 billion respectively, up 29% and 62%, respectively.
The iPhone, Apple's core product, brought in about $42.626 billion in revenue, below Wall Street expectations of $43.21 billion and up 9.7% from a year earlier. In Q4 of 2021, iPhone revenue grew 47% year over year.
While that may seem like an impressive achievement, it's still considered a bit of an understatement, given that the iPhone 14 series has increased in price in many parts of the world this year.
It is known that the price of this year's iPhone 14 series has increased in all markets except China and the US. In the UK, for example, the iPhone 13 will start at £779 when it launches, while the iPhone 14 will start at £849. In Japan, the iPhone 13 will start at 98,800 yen when it launches, while the iPhone 14 will start at 119,800 yen; In Germany, the iPhone 13 will start at 899 euros when it launches, while the iPhone 14 will start at 999 euros, both significant increases.
And the price difference is only for the entry-level model, with a bigger difference for higher-end models. The most expensive iPhone 14 Pro Max, for example, costs ￡150 more in the UK than when it was released last year.
As for the reason for the price increase, Apple CFO Luca Maestri said on Apple's fiscal fourth-quarter earnings call: "Basically, every currency in the world is depreciating against the dollar. The strong dollar poses challenges on a number of fronts. "Obviously, it makes it more difficult for us to price in emerging markets, and it also affects the conversion of those revenues back into dollars."
Meanwhile, Apple CEO Tim Cook said, "The negative impact of foreign exchange volatility in the fiscal fourth quarter was more than 600 basis points. Without the currency impact, we could have had double-digit growth."
