Apple's Wearables Category Sets All-Time Revenue Record in Q1 2020, Surpassing Mac for the First Time
During the first quarter of 2020, Apple's wearables category set a new all-time revenue record, according to Apple CEO Tim Cook.
Apple's wearables earnings category, which includes AirPods and Apple Watch along with accessories like Beats headphones and HomePod, hit $10 billion, up from $7.3 billion in the year-ago quarter.
Wearables, Home, and Accessories revenue surpassed Mac revenue for the first time this quarter. Mac revenue was at $7.2 billion in Q1 2020.
According to Apple CEO Tim Cook, Apple could not make enough AirPods and Apple Watch Series 3 devices to meet demand during the quarter, and supplies continue to be low. Cook told Reuters that Apple is "working on both of those very hard."
Apple Watch set a new all-time revenue record during the quarter, and more than 75 percent of new customers during the quarter were new to Apple Watch. Both AirPods and Apple Watch were "must-have holiday gifts," driving growth even as supplies were constrained.
Cook says that Apple's wearables business is now the size of a Fortune 150 company.
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