The iPad family has witnessed a downward trend in sales, leading to reduced revenue for multiple previous quarters, with the Q1 and Q2 periods nothing to write home about. Fortunately for the company, its tablet range’s slump finally came to an end during the Q3 2024 earnings call, and what is even more surprising is that this segment recorded a 24 percent revenue increase year-over-year, making it the highest compared to all categories for this quarter.
Thanks to the M2 iPad Air and M4 iPad Pro launches, Apple finally posted some healthy growth in this segment
To recap, the iPad category brought in $7.16 billion for the fiscal Q3 2024 period, up from $5.79 billion a year ago. This is a thoroughly impressive result because even the iPhone, the king of Apple’s revenue generators, recorded a revenue of $39.3 billion, which is 1 percent lower compared to the Q3 2023 period. The only other segment that attained double-digit growth was Services, bringing in $24.21 billion and marking a 14 percent increase compared to the same period last year.
As for how Apple successfully managed to avoid another quarter with lowered revenue from the iPad, it was thanks to the M2 iPad Air and M4 iPad Pro launches, both of which were unveiled in May. Despite the new iPad Air models introducing just hardware upgrades to the mix, Apple made the scenario interesting by introducing a bigger 13-inch model, appeasing those who wanted an increase in screen real estate from a slate but were unwilling to spend a ludicrous sum to acquire it. As for the new iPad Pro models, these represent the very best of Apple’s design and engineering prowess.
Not only are the 11-inch and 13-inch versions the thinnest devices ever made by the company, but they also feature the industry’s first tandem OLED technology, coupled with the M4 chipset, which is mass produced on TSMC’s second-generation 3nm technology, which is another first. In short, the new iPad Pro range is overkill for most users, but it will certainly be a treat for those who purchased it for whatever work is done on them. It is unclear if Apple will witness a repeat of the iPad’s success in the coming quarters, but we will keep our readers updated on the latest, so stay tuned.
About the author: Omar Sohail is a reporter and analyst for Wccftech's mobile section, specializing in the technology and business of the mobile industry. His expertise lies in the intricate hardware supply chain, covering developments in semiconductor manufacturing, chip lithography, and camera sensor technology.
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