Apple announces financial results for the first quarter of 2023, sales fell 5% year-on-year, recording the largest rate of decline since 2016
On February 2, 2023, local time, Apple announced its financial results for the first quarter of 2023 (October to December). For Apple, the first quarter is the quarter immediately after the release of the new iPhone, so it is a timing when a lot of sales can be expected, but the sales in the same period fell by 5% compared to the same period last year, which is a disappointing result.
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According to Apple, the first quarter of 2023 will be affected by supply chain shortages, and sales will decrease by 5% year-on-year to $ 117.15 billion (about 15.7 trillion yen). Net income decreased by 13% from the same period last year to $ 29.99 billion (about 3.86 trillion yen). The 5% year-over-year decline in sales is the largest year-over-year decline since 2016.
Due to the shortage of parts supply, Apple was forced to limit the number of shipments of its two main earners, the iPhone 14 Pro and iPhone 14 Pro Max.
A significant delay in the supply of the iPhone 14 Pro series, due to the lockdown of Chinese factories in Corona-GIGAZINE
Apple reports sales by division, the breakdown of which is as follows. Sales in categories such as 'iPhone', 'Mac', 'Wearables, Home, Accessories (Apple Watch, various accessories, smart home related products)' are declining, but 'iPad' and 'Services (various services such as Apple Music)' ” sales are strong. However, Apple has not released detailed figures on the sales volume of major products such as iPhones and Macs.
iPhone: $ 65.78 billion (about 8.47 trillion yen): 8% decrease from the same period last year
Mac: $ 7.74 billion (about 996 billion yen): 29% decrease from the same period last year
iPad: $ 9.4 billion (about 1.2 trillion yen): 30% increase from the same period last year
Wearables, home, accessories: $ 13.48 billion (about 1.73 trillion yen): 8% decrease year-on-year
Service: $ 20.78 billion (about 2.67 trillion yen): 7% increase from the same period last year
Below is a graph summarizing Apple's quarterly sales.
Below is a graph summarizing quarterly iPhone sales. It is clear that in the first quarter of 2023, sales of Apple's main product, the iPhone, will decline year-on-year due to supply shortages.
On the other hand, we can see that quarterly service sales are growing fairly well.
Regarding the financial results for the first quarter of 2023, Apple CEO Tim Cook said, ``We are all trying to overcome a difficult environment, but we were able to have the best products and services ever. We are also proud of our long-term vision and will continue to base all our activities on our values.” In addition, ``We also succeeded in achieving a major milestone in the December period. It is reported that the number of terminals has exceeded 2 billion.
After announcing the financial results for the first quarter of 2023, CEO Cook answered an interview with The Wall Street Journal, in which major technology companies such as Amazon, Google, and Meta are moving to large-scale personnel reductions. ``I think layoffs are the last resort.'' Also, in an interview, Cook CEO said, 'If iPhone supply restrictions did not occur, iPhone sales would have grown,' and also revealed that the foreign exchange rate was also an issue for Apple. increase. According to Cook, Apple's sales in the first quarter of 2023 could have been higher than the same period last year if currency adjustments were made.
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