Apple’s newfound strategy of investing in non-iPhone products and services appears to be working, with the company posting its biggest ever June quarter in 2019.
And it’s an approach that looks set to continue, with the Apple credit card set to launch in August.
Released on Tuesday, Apple’s third quarter earnings report showed the company had beat predictions for the period, led mostly by strong results in its wearables category.
The tech company reported a quarterly revenue of $US53.8bn ($AU78.27bn), higher than its previous estimate of $US53.39bn ($AU77.66bn).
Although the company does not release information on the sales of individual items, the ‘Wearables, Home and Accessories’ category – which includes AirPods and Apple Watches – almost generated as much income as the Mac computer section.
“This was our biggest June quarter ever, driven by all-time record revenue from services, accelerating growth from wearables, strong performance from iPad and Mac and significant improvement in iPhone trends,” said Apple’s CEO Tim Cook.
Ever since news broke iPhone sales were struggling in China, the company has made a concerted push towards services, most notably through its Apple TV+ streaming service.
At the same star-studded announcement event last year, Apple also revealed it had teamed up with Goldman Sachs to create a new Apple Card.
And the release of the card is now imminent (in the US at least), with Cook revealing the card will be released next month.
The card will exist both virtually, within the Apple Wallet app and physically and is also set to come with no fees associated, including annual, late, international and over-the-limit.
It will also give users greater insights into how they spend, breaking down purchases into categories including entertainment, food, and shopping.
It will also include a cashback incentive system.