Apple's wearables business grew 30% to a new record of $13 billionTim Cook also points to services like Apple Fitness+ as drivers for future wearables growth.
What you need to know
Apple's wearables business hit a record-breaking $13 billion in revenue in Q1 2021.
Each segment set its own individual revenue record as well.
During the Q1 2021 earnings call today, Apple announced that its wearables, home, and accessories business grew 30% year over year to a new first-quarter record of $13 billion.
Luca Maestri, Apple's Chief Financial Officer, says that this performance has now solidified this segment of Apple's business as a Fortune 120 company all on its own. He also revealed that, despite Apple Watch being available since 2015, over 75% of customers purchasing a watch were new to the device.
Wearables, Home and Accessories grew 30% year over year to $13 billion, setting new all-time revenue records in every geographic segment. As a result of this strong performance, our wearables business is now the size of a Fortune 120 company. Import...
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Apple's wearables business grew 30% to a new record of $13 billion
