news 1 week ago

Tim Cook says Apple’s wearables business is almost as big as a Fortune 300 company

BGR

Steve Jobs used to make fun of Amazon for not releasing specific sales figures for devices like the Kindle, which is somewhat comical given that Apple over the past few years has refused to divulge how many Apple Watch units the company sells every quarter. As for the reasoning behind Apple’s decision, the company’s initial explanation was that it didn’t want to provide competitors with any strategic information about its brand new wearable. Even if you buy that argument, it doesn’t really hold weight anymore given that the Apple Watch has now been around for nearly three years.

That notwithstanding, Apple certainly isn’t trying to mask underwhelming sales. Far from it, it seems as if the Apple Watch continues to grow in popularity with each passing year. Most recently, and thanks to the Apple Watch Series 3, cumulative Apple Watch sales have exploded in recent months. As Tim Cook explained during the company’s recent earnings conference call, Apple Watch sales during the recent holiday quarter were higher than they’ve ever been.

Shedding some more light on the company’s wearables business overall, Tim Cook during today’s annual shareholders meeting said that revenue from Apple wearables (which includes the Apple Watch, AirPods, and Beats headphones) is now approaching the size of a Fortune 300 company. As a reference point, Cook this past May said that revenue from Apple wearables was comparable to a Fortune 500 company.

Tim Cook just said he's not a big fan of the word "wearables" but he brings it up on every earnings call 🤔 Says its approaching the size of a Fortune 300 company

— kif (@kifleswing) February 13, 2018

For some additional context, consider this: revenue from Apple’s wearables is now close to surpassing revenue from the likes of companies like Netflix and eBay.

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