Apple revealed that revenues from its services division were reported to be at $8.5 billion in the past quarter, a 34 percent year over year growth. Currently, that revenue is more than both the iPad and Apple’s “other products” division — which includes Apple TV, AirPods and other accessories, iPod touch, Apple Watch, and Beats products — combined. The news was part of the fourth quarter earnings results of the company.
Since April 2016, the services division of Apple has been the second strongest source of revenue of the company behind iPhones when it first exceeded Mac sales. Services include iCloud, and Apple Music, which the company said experienced a 75 percent subscriber increase, though Apple did not specify the number of users that the amount entails. Apple also observed much more downloads and longer time spent in the App Store following a redesign that was announced at WWDC and launched with the iOS 11 in September. Citing the latest estimates of App Annie, revenues of the App Store are almost twice as much as the Google Play Store’s, according to Luca Maestri, from the Chief Financial Office of Apple.
Lastly, the services growth of Apple was also attributed to the expansion of Apple Pay to countries all over the world, including Finland, Denmark, the UAE, and Sweden in the past month. Stateside, Apple Inc. has worked with its retail partners including Safeway, a supermarket chain, to support Apple Pay, with rollouts starting in October to eventually support all 912 stores in the United States.