Tech firm Apple has reported $56 billion in revenue from its iPhone sales – exceeding all estimates made by analysts. The revenue gained from the first fiscal quarter conveys that the company’s iPhone 11 has had a strong start in the market and helped boost sales. 

In a press release, Apple’s CEO Tim Cook stated, “We are thrilled to report Apple’s highest quarterly revenue ever, fueled by strong demand for our iPhone 11 and iPhone 11 Pro models, and all-time records for Services and Wearables.”

“During the holiday quarter our active installed base of devices grew in each of our geographic segments and has now reached over 1.5 billion.”

Speaking about the iPhone 11, Cook said, “People love the battery life. They love the camera. They love the industrial design. The battery lasts all day”. He added that the phone was priced correctly to appeal to consumers. We also hit the right price with it.”

Compared to the same period a year before, there was an increase of 8% in iPhone revenue. The latest revenue figures also show that there was a rise in sales since the previous quarter, which generated $33.6 billion from iPhone sales. 

Analysts had predicted that the first quarter of the fiscal year would generate $51.62 billion from the devices. 

Despite having other products on sale, Apple’s iPhone is still an integral part of its overall revenue. 

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