Apple Watch attracted a record number of first-time buyers in Q1 2023

Apple on Thursday shared results for its fiscal 2023 first quarter, which covers the months of October, November, and December 2022. Despite a 5% decline in revenue compared to the same period last year, the company says it saw a record number of first-time buyers of the Apple Watch in Q1 2023.

Apple Watch continues to attract new buyers

According to Apple CEO Tim Cook during a call with investors, nearly two-thirds of the customers purchasing an Apple Watch during the last quarter were buying one for the first time. This comes after Apple introduced three new Apple Watch models last year: Apple Watch Series 8, Apple Watch Ultra, and the more affordable second-generation Apple Watch SE.

Despite this, sales in the Wearables, Home, and Accessories category were down 8% year-on-year. The company says the figures are a result of a challenging macro environment. This category includes products such as the Apple Watch, AirPods, and the HomePod

But the company also has some other good news. During the same investor call, Apple also announced that it has reached the milestone of 2 billion active devices, as well as record revenue in the Services category. In a quarter significantly impacted by supply chain shortages, Apple reported $117.15 billion in revenue with a profit of $29.99 billion.

For context, Apple reported a record revenue of $123.95 billion for Q1 2022 with a profit of $34.6 billion. That represented an all-time revenue record for the company. The 5% year-over-year revenue decline represents Apple’s largest quarterly revenue decline since 2016.