Apple sets record revenue despite supply chain disruptions and Covid-19

Despite $6 billion in losses due to supply chain disruptions caused by chip shortages and factory closures during the Covid-19 epidemic, Apple still recorded the highest revenue of all time, thanks to year-end shopping season demand. and strong iPhone sales in China.

Apple said that in the fourth quarter of 2021, the company’s revenue grew 11.2% compared to the fourth quarter of 2020, reaching 123.9 billion USD, net profit reached 34.6 billion USD, beating analysts’ expectations. invest. According to “Miss Apple”, revenue could be more than 6 billion USD if not for the supply chain. While the tension continues, it should ease slightly in the current quarter. Finance Director Luca Maestri forecasts that the first quarter of 2022 will set a new record.

The China market (including China, Hong Kong, and Taiwan) experienced the fastest revenue growth in any region with a 21% year-on-year increase to $25.8 billion. According to CEO Tim Cook, the numbers here are impressive: record sales, record number of upgrades. Japan was the only market where revenue fell, falling 14.2% in the same period to $7.1 billion. Revenue in the rest of Asia Pacific rose 19.3% to $9.8 billion.

iPhone revenue rose 9.2% to a record $71.6 billion. Apple has been trying to speed up production by allocating components from older iPads and iPhones to newer iPhones. However, according to Nikkei, by early December 2021, the company had to narrow its target of producing 230 million iPhones in 2021.

Partly because of sharing components with the iPhone, iPad revenue fell 14.1% to $7.3 billion. Apple also cited the supply chain as a factor affecting the iPad line and expects better first-quarter results in 2022.

Apple enjoyed growth in every other product category: Macs, services, wearables, home, and accessories. Apple is exploring opportunities in the virtual universe model because it “sees a lot of potential in this area,” according to CEO Tim Cook.