Apple set an iPhone sales record even without a new standard iPhone

Apple had a record-breaking quarter for iPhone sales — despite not releasing a standard model during its latest refresh. In its fourth-quarter earnings report released on Monday, Apple says it earned $57.58 billion in iPhone revenue, a 17 percent jump from the same time last year.

The increase in revenue follows the launch of Apple’s iPhone 18 lineup in September, which included a pricier iPhone 18 Pro and Pro Max model. The company raised prices across its older models at the same time. Apple also took the wraps off its first folding phone, the iPhone Duo, but its preorder sales aren’t included in this earnings report.

Like other device-makers, Apple has been dealing with supply chain constraints and rising memory costs, leading it to raise prices across its products. Meanwhile, Apple only had a “limited” number of iPhone Duos available in store at launch, with some estimated shipment dates extending into 2027. “We saw higher memory costs as compared to the June quarter, and that was partly offset by the benefit of carrying inventory and lower costs on non-memory components,” Apple CEO John Ternus said during an interview with CNBC.

Apple reported a 12 percent increase in revenue overall, ballooning to $114.5 billion. Its Mac business grew 24 percent to $10.79 billion, while Apple’s services division, which includes App Store commissions along with subscriptions to services like Apple TV and Apple Music, grew to $31.57 billion. iPad revenue declined 10 percent year over year, with $6.23 billion in sales.

Apple shook up other areas of its product lineup with some other major launches over the past several weeks. It made a big push into the smart home space with its first smart home display and a series of video doorbells, security cameras, and door locks, made in collaboration with LG and Schneider Electric. Last week, Apple also revealed a MacBook Pro with a touchscreen — a design choice that its executives famously resisted.