Cook: Apple's Wearable Business Is Comparable To Fortune 300 Companies

May 2 news Apple today released the financial report for the second quarter of 2018. The financial report shows that Apple’s revenue for the first three months of this year was 61.1 billion U.S. dollars, and its profit was 13.8 billion U.S. dollars. The iPhone’s overall sales volume reached 52.2 million. This was higher than the 51 million units in the same period last year. On the conference call, CEO Tim Cook shared some noteworthy details about Apple’s wearable device business, and he also revealed that Apple Pay is about to land in more countries.

First, Cooke claimed that Apple’s "other" category had revenues of nearly $4 billion in the second quarter of 2018. This category includes AirPods, Apple Watch, HomePod, Beats, iPod Touch, Apple TV, etc., which brought in 3.96 billion US dollars of revenue, an increase of 38%. Wearables grew 50% year-over-year, including AirPods, Apple Watch and Beats.

Cooke said that Apple’s wearable device business is now the size of Fortune 300 companies. Apple said at the February shareholders’ meeting that wearable devices are approaching the “wealth” 300 mark, which is now officially reaching this milestone.

In addition, Cook also announced that Apple Pay will be launched in Norway, Poland and Ukraine in the coming months. Cooke said that Apple Pay active users have more than doubled over the same period of last year, and the total transaction volume has tripled.