iPhone 12 is making Apple tons of money

The iPhone 12 has sold more than 100 million units within seven months of launching, data released by Counterpoint Research revealed.

This puts it on par with the sales figures of the iPhone 6, Apple’s all-time best seller.

Whereas the demand for larger screens drove iPhone 6 sales, Counterpoint’s stated that iPhone 12 sales were driven by the demand for full OLED displays and 5G connectivity.

Similar to how the iPhone 6 was released on the cusp of 4G adoption, the iPhone 12’s high sales volume coincides with the advent of 5G technology.

The iPhone 12 outperformed the previous-generation iPhone 11, which reached the milestone of 100 million units sold two months later than the iPhone 12.

From the iPhone 11 to the iPhone 12, a shift in model preference has also occurred, Counterpoint found.

The flagship iPhone 12 Pro Max accounted for 29% of iPhone 12 sales, whereas the iPhone 11 Pro Max accounted for 25% of iPhone 11 sales. US sales accounted for 40% of iPhone 12 Pro Max sales worldwide.

The shift in model preference and the higher sales figure has led to a 22% increase in revenue in the first 7 months of the iPhone 12 compared to the iPhone 11.

Apple’s smartphone market share reached a record-high in April, according to Counterpoint.

Now read: Keep these Apple gadgets away from your medical devices

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iPhone 12 is making Apple tons of money