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.
Tim Cook also touched on wearables earlier on the call, saying that each of the segments set new revenue records of the holiday quarter. He also pointed to services like Apple Fitness+ as future drivers for wearables performance.
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Joe Wituschek is a Contributor at iMore. With over ten years in the technology industry, one of them being at Apple, Joe now covers the company for the website. In addition to covering breaking news, Joe also writes editorials and reviews for a range of products. He fell in love with Apple products when he got an iPod nano for Christmas almost twenty years ago. Despite being considered a "heavy" user, he has always preferred the consumer-focused products like the MacBook Air, iPad mini, and iPhone 13 mini. He will fight to the death to keep a mini iPhone in the lineup. In his free time, Joe enjoys video games, movies, photography, running, and basically everything outdoors.