Which Regions Drove Apple’s Revenues in Fiscal 2017?


Oct. 29 2019, Updated 10:38 p.m. ET

Americas and Europe

Apple (AAPL) generated $96.6 billion from the Americas region in fiscal 2017, a rise of 12.0% YoY (year-over-year) compared to a revenue decline of 8.0% in fiscal 2016. Europe also drove Apple’s revenues higher by 10.0% YoY to $54.9 billion last fiscal year, compared to a revenue fall of 1.0% in fiscal 2016.

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Greater China, Japan, and Asia-Pacific

Apple has seen a significant decline in revenues generated from Greater China. This region saw revenues fall 8.0% YoY in fiscal 2017 to ~$44.8 billion while its revenues fell 17.0% YoY to $50.0 billion in fiscal 2016.

In fiscal 2015, Greater China was the second-largest geography for Apple in terms of revenues. However, growing competition among smartphone manufacturers in China has meant a decline in market share for Apple in this region.

Customers are now looking at cheaper options such as Huawei, OPPO, Xiaomi, and Vivo. However, in fiscal 4Q17, revenues from China (FXI) rose 12.0% YoY to $9.8 billion after seven consecutive quarters of revenue decline. While iPad sales rose 25.0% YoY in China, Apple’s flagship product, the iPhone, also saw double-digit growth in mainland China.

Japan’s (EWJ) fiscal 2017 revenues rose 5.0% YoY to $17.7 billion after rising 8.0% YoY in 2016 to $16.9 billion. The rest of the Asia-Pacific region saw revenue growth of 11.0% YoY to $15.2 billion in fiscal 2017 after falling 10.0% YoY in 2016.


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