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MoneyApple's wearables business is now the size of a Fortune 200 company

02:30  20 august  2019
02:30  20 august  2019 Source:   businessinsider.com.au

Apple loses more ground in smartphone market

Apple loses more ground in smartphone market Apple lost more ground in the shrinking smartphone market last quarter, with a sales tracker saying the tech giant was pushed off the top-three seller list by a Chinese rival. Apple fell to fourth place in global smartphone sales, shipping 35.3 million iPhones in the second quarter compared to the 36.2 million units shipped by Oppo, according to a report from IHS Markit this week. South Korean consumer electronics titan Samsung remained in first place with 23 percent of the market, having shipped 75.1 million smartphones, China's Huawei shipped 58.

Apple ' s wearables business continues to grow like gangbusters. If Apple ' s wearables business were a stand-alone company , it would be in the Fortune 200 In May 2018, Apple ’ s wearables division was nearly the size of a Fortune 300 company . Cook didn’t reveal actual unit sales numbers.

Apple ' s wearables business is now the size of a Fortune 200 company , CEO Tim Cook said on the company 's earnings call. That product category includes the Apple Watch, as well as its wildly successful AirPods wireless headphones. Visit Business Insider's homepage for more stories.

Apple's wearables business is now the size of a Fortune 200 company

As Apple drifts away from its reliance on the iPhone to drive revenue, the smartphone maker's wearables operation looks to be stepping up to the plate.

The company's wearables business is now the size of a Fortune 200 company on a trailing 12-month basis, according to a new UBS analysis. The segment accounted for more than $US5.5 billion of Apple's $US53 billion in net sales during the third quarter of 2019, growing 50% from the same period last year.

Apple has also made significant push into services to diversify its business. Apple Music has continued to gain ground on music-streaming competitor Spotify, while Apple TV Plus - a Netflix-like streaming platform - and Apple Arcade - a subscription-based gaming service - are scheduled to launch in the fall.

Apple loses more ground in smartphone market

Apple loses more ground in smartphone market Apple lost more ground in the shrinking smartphone market last quarter, with a sales tracker saying the tech giant was pushed off the top-three seller list by a Chinese rival. 

Apple ' s wearable division, which is made up by the Apple Watch, Beats headphones, and AirPods, is up nearly 50 percent year over year, with CEO Alcoa, the 300th company on the Fortune 500 index in 2017 posted a revenue of .3 billion which gives us a good idea where the wearables division falls.

The latest earnings report from Apple has offered another resounding vote of confidence in its wearables business . Interestingly, Cook boasted that this division of the company , on its own, is the size of a Fortune 200 company . Remember, Apple told us the wearables business was

According to UBS, Apple's wearables segment contributed more material growth in the third quarter than its services business for the first time in company history.

Apple executives touted "phenomenal demand" for AirPods in the third quarter, and UBS's analysts predict the product alone could generate $US10 billion in revenue by 2021, close to double the sales the entire wearables segment posted last quarter.

The firm also predicts the Apple Watch will generate $US20 billion in sales by 2021, which combined with the predicted $US10 billion in AirPod sales, the total is roughly the revenue equivalent of selling 40 million additional iPhones, UBS said.

UBS has a Buy rating on Apple with a $US235 price target.

Apple is up 33.9% year-to-date.

Apple's wearables business is now the size of a Fortune 200 company
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