Reported iPhone sales were up, year over year, by about 275,000 units (flattish), but then there was also inventory draw down of 3.5 million units during the quarter. Here is what Luca had to say in the earnings call:
"iPhone revenue grew 20% year over year with iPhone ASP increasing to $724 from $606 a year ago, driven by the strong performance of iPhone X, iPhone 8, iPhone 8 Plus across the world.
During the quarter, we sold 41.3 million iPhones, with double digit unit growth in several markets including the U.S., Canada, Germany, Switzerland, Mexico, Hong Kong, Russia, the Middle East and Africa. Our performance from a customer demand standpoint was stronger than our reported results as we reduced iPhone channel inventory by 3.5 million units during the quarter. We exited the June quarter towards the lower end of our target range of 5 to 7 weeks of iPhone channel inventory."
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