Apple Sets iPhone Sales Record Despite Skipping Standard Model Launch

Apple has announced a groundbreaking financial quarter, setting a new record for iPhone sales despite a notable shift in its product release strategy. In its fourth-quarter earnings report, released on Monday, the tech giant revealed an impressive $57.58 billion in iPhone revenue, marking a significant 17 percent increase compared to the same period last year. This remarkable surge in revenue comes even as Apple opted not to release a standard iPhone model during its latest refresh cycle. Instead, the growth is largely attributed to the successful launch of the iPhone 18 lineup in September, which prominently featured the higher-priced iPhone 18 Pro and Pro Max models. Concurrently, the company strategically raised prices across its older iPhone models, further contributing to the revenue boost. While the report highlights strong performance from its existing iPhone portfolio, Apple also recently unveiled its first folding phone, the iPhone Duo. However, sales figures for the iPhone Duo's pre-orders are not included in this particular earnings report, indicating its potential impact will be seen in future financial disclosures.