Apple’s wearables division sets new record on Q1 Business revenue beats Fortune 150 companies

Apple CEO Tim Cook announced a new record revenue record for the company’s wearable sms on Tuesday, according to Apple Insider, amedia outlet. Strong demand for watches and AirPods.

Apple's wearables division sets new record on Q1 Business revenue beats Fortune 150 companies

Apple’s wearables category posted revenue of $10 billion in the quarter, up from $7.3 billion a year earlier, with both the Apple Watch and AirPods setting new records. The segment also includes Beats headsets and HomePods.

More than 75% of Apple Watch buyers are first-time buyers. In addition, wearables revenue now exceeds Mac’s revenue, and business revenue is comparable to the size of Fortune 150 companies.

While both the Apple Watch Series 3 and the recently launched AirPods Pro are limited by supply, revenue has risen sharply. Mr Cook earlier said on a conference call that supplies of Theeries 3 should be balanced as soon as possible, but could not estimate the AirPods Pro, saying the situation had been “significantly reduced”.

“We’ve set new records for wearables in almost every market we’re tracking,” Luca Maestri, Apple’s chief financial officer, said on a conference call. “

Apple's wearables division sets new record on Q1 Business revenue beats Fortune 150 companies