Q2 2015: Apple :: China Revenues Double Annually

Apple reported its FYQ3 or CYQ2 results for 2015, some key highlights were:

  • Apple generated almost US$ 50 Billion in revenues up 33% YoY.
  • Operating income stood grew 37% annually to US$14 Billion but overall contribution to the total revenues declined to 28% from 30% Q2CY15 last year. Gross margins though remained healthy at 40% level
  • Apple iPhone revenues contributes to almost 63% of the total Revenues and continues to be the major driver. Apple shipped 47.5 Million iPhones up 35% annually for roughly 14% smartphone market share
  • According to Counterpoint Research, Apple iPhone 6 series has been a runaway hit. iPhone 6 was the best selling phone globally and iPhone 6 Plus was the best selling phone in China in terms of sales volumes in June 2015
  • Apple iPad will be down to US$5 Billion / quarter product line for this year. The iPad shipments reached ~11 million units during the quarter (-18% YoY) whereas revenues were down 23% YoY as it hit its lowest ever ASP 

ipad vs services revenus Apple Q2 2015











  •  Software & Services Revenues for Apple has surpassed iPad revenues for the first time ever.
  •  Apple also launched Apple Watch this quarter, according to Counterpoint estimates, Apple shipped close to 2.1 million units during its launch quarter, this could more than double in coming quarters and especially going into the holiday season
  • However, Apple has generated roughly 2 million unit sell-in on just 19 countries Apple Watch roll-out. As Apple rolls out to more countries (another 100 odd) to match iPhone’s ffootprint, we will see average volumes and revenues even surpass that of iPads in next few quarters

  • In terms of regional splits, China continues to be one of the important market for Apple. China revenues more than doubled (112% YoY) during the quarter
  • China is on track to contribute almost US$60 Billion in revenues to the Apple’s total revenues and almost US$15 Billion in Operating income  during CY2015

As Apple continues to remain strong in key markets such as USA, China, Japan & S.Korea boosting revenues and profits, Apple is also looking to aggressively expand in other high-growth markets such as India and others.

Apple Performance Q2 2015











Please feel free to reach out to us at analyst@counterpointresearch.com for further discussion or questions on the mobile industry players’ quarterly performance.