Apple's Wearables Category Sets New Revenue Record in Q1 2021

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Apple's Wearables, Home, and Accessories category, previously known as the "Other" category, brought in record revenue in the first fiscal quarter of 2021 (fourth calendar quarter), hitting $13 billion, up from $10 billion in the year-ago quarter.

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The 30 percent growth the category saw during the quarter was driven by demand for the Apple Watch, HomePod mini, and all of the AirPods models, including the AirPods Max.

According to Apple CEO Tim Cook, there were new revenue records for all three sub groups of the Wearables, Home, and Accessories category, with Cook saying that he's "excited for the road ahead for these products."

Apple CFO Luca Maestri said that Apple's wearable business is now the size of a Fortune 120 company. The Apple Watch in particular continues to extend its reach, and 75 percent of customers who bought an Apple Watch during the quarter were new to the product.

Maestri said that Apple is excited about the future of the wearables category thanks to Apple's integration of hardware, software, and services, which allows the company to provide great customer service.

Going forward, however, Apple expects wearables demand to fall somewhat compared to the first quarter as much of this quarter's growth was due to holiday sales.

Tag: Earnings

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Top Rated Comments

TeamMojo Avatar
TeamMojo
62 months ago
$13 Billion. Not too shabby for a side hustle!
Score: 2 Votes (Like | Disagree)
amartinez1660 Avatar
amartinez1660
62 months ago

$13 Billion. Not too shabby for a side hustle!
And quite the effort for being a side hustle. I was given an Apple Watch as a Christmas gift by a family member... and damn, didn’t know I was going to enjoy it this much. Now the macs passwords unlock by double tapping the button, go for a daily run without the phone but still have the music, tracking apps, podcasts and books that were playing, do groceries and pay with Apple Pay, etc... get back home and all gets synchronized on the background.

I only fully realized when I tried to ask Siri to go to the next song (it’s sometimes 5 or even 0 F) and was met with no reply at all, the watch said no Siri without internet basically.
Score: 1 Votes (Like | Disagree)
I7guy Avatar
I7guy
62 months ago

What category do cables, dongles, and power bricks fall into?
How do you think Apple made the $111B? /s

Seriously, the scale at which Apple operates is amazing. As @TeamMojo said $13B for a side hustle. Is that even more than what Samsung earns from it's mobile phone division? (just kidding)
Score: 1 Votes (Like | Disagree)
firewire9000 Avatar
firewire9000
62 months ago
I work in a big retail store and this doesn’t surprise me, we’ve been selling this holidays Apple Watch and especially HomePod mini like hotcakes.
Score: 1 Votes (Like | Disagree)
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