The new iPhone models hit the shelves less than a month ago to much fanfare and questionable consumer behaviour. But was it the sales bonanza that Apple has been hoping for?
Well, globally, sure. Apple sold 10 million iPhones in three days after they went on sale and are on track for 20 million in the first month, suggesting demand is as strong as ever.
But what about in Australia?
The guys behind budgeting app Pocketbook have crunched the numbers to give us a detailed look on how the new phone impacted Aussie consumer spending.
The results show exactly why Apple puts so much money into marketing their new products: a major product launch is a huge money maker for the company.
The chart shows that last year Apple Australia made around two thirds of its annual revenue in the four months following the launch of the iPhone 5S and 5C. And that looks to be holding true for the iPhone 6, with spending on Apple products tripling in September compared to the July numbers.
But while the headline revenue figures from the iPhone 6 are consistent with last year’s launch, there are other factors at play, too.
Economics tells us that increased prices will reduce demand, and that’s proved true when it comes to this year’s phones.
With no cheap and cheerful iPhone 5C to drive sales numbers, customers are forced to pay $869 for a base level iPhone 6 or $999 for a base 6 plus.
Which means that Aussies appear to have bought less phones this year, but the higher average price has kept the revenue going into Apple’s pockets about the same.
Finally, how important is it for electronics retailers to stock Apple? Very.
This last chart shows that retailers stocking Apple products are big winners out of a product launch, while retailers who don’t suffer considerably.
So it won’t be much consolation for them to learn that new iPads are due out soon, and Apple’s biggest sales period is still yet to come: the Christmas season.
For more info on this and other juicy spending-related subjects, check out the full analysis at the Pocketbook blog.
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