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Apple Surprises Wall Street Once Again in Fiscal 3Q15

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Part 8
Apple Surprises Wall Street Once Again in Fiscal 3Q15 PART 8 OF 10

Greater China Drove Apple’s Sales in Fiscal 3Q15

Apple’s sales in Greater China

In the earlier parts of this series, we learned about Apple’s significant year-over-year (or YoY) revenue growth during fiscal 3Q15. We learned that the Greater China (FXI) (EWT) segment drove Apple’s sales during the quarter. Apple’s overall revenue grew by ~32.5% YoY to ~$49.6 billion during the quarter. Moreover, revenue from the Greater China segment grew by a robust ~112.4% YoY to ~$13.2 billion.

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Despite robust iPhone sales, Apple moves to third place in China

We learned earlier in the series that iPhone revenue saw solid YoY growth of ~58.8% during fiscal 3Q15. Solid YoY growth in unit sales of iPhones supported this revenue growth. As the above chart shows, iPhone unit sales grew significantly by ~87% in the Greater China segment. This was much higher than the ~35% YoY growth in Apple’s overall unit sales of iPhone.

Despite solid iPhone sales in the contracting smartphone market of China, Apple lost its top rank in the market during fiscal 3Q15.

According to Counterpoint Research, Apple’s smartphone market share declined to ~12.2% during the quarter. Moreover, Samsung (SSNLF) also lost its fourth place in this smartphone market during the quarter. Xiaomi, which has investment from Qualcomm (QCOM) Ventures, became the smartphone market leader in China. According to Counterpoint, Huawei had the second largest share of this market in China during the quarter.

Apple’s Mac sales and App Store revenue grew robustly in Greater China

Mac sales were also comparatively much higher in the Greater China segment during fiscal 3Q15. According to the company, Apple’s Mac unit sales in this geographic region increased by ~33% YoY. This robust growth supported the company’s ~8.7% YoY growth in total Mac units sold during the quarter.

According to the company, Greater China’s App Store revenue also grew significantly by over 100% in fiscal 3Q15. Plus, Apple’s overall App Store revenue increased by ~24% YoY during the quarter.

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