Apple Australia sales hit $9.34b in Australian sales
Apple has posted record Australian sales but its pace of growth has fallen sharply as consumers hold onto their mobile phones for longer or shift to rival handsets.
The uptake of services such as Apple music and TV also accounted for two-thirds of the sales growth the local arm of the US technology giant posted over the past year.
In all, Apple raked in a record $9.39 billion in sales from Aussie consumers in the year to September 28, it latest accounts show.
The iPhone maker's Australian revenue rose 3.3 per cent, or $307 million, the accounts lodged with the corporate regulator show.
That is a sharp slowdown from the 13 per cent lift - or $1 billion in extra sales - Apple Australia notched up in the same period in 2018 as it launched the iPhone 8 and X models.
Apple Australia's latest accounts include close to a full year of sales of its iPhone XR model and early numbers from its new iPhone 11 series which hit local shelves on September 11.
Online retailer Kogan last year blamed a marked slowdown in the take up of Apple products for a hit to its sales.
The iPhone remains Apple's single most important product, accounting for more than half of its global revenues.
But its recent models - and their hefty price tags - have failed to generate the same level of enthusiasm among shoppers as earlier devices.
The company's Australian accounts show its services unit, which covers music, TV and cloud storage products, is becoming increasingly important as a growth driver.
Services accounted for about $200 million of Apple Australia's total sales lift in 2019.
The segment now accounts for 15.1 per cent of all sales, up from 12.7 per cent in 2018.
A slowdown in local sales growth did not stop Apple from posting a healthy jump in net profit which surged by close to 25 per cent to $286.7 million.
The local arm also paid its US parent company a $267 million dividend.
Despite the profit hike, Apple Australia booked a corporate income tax expense of $120.9 million in 2019.
That was lower than the $164.1 million it booked in 2018 as it made use of deferred tax income.
The tax bill in Apple's accounts - based on accounting rules - can differ from what it actually hands over to the taxman.
The latest data from the Australian Taxation Office shows Apple Australia paid $120.8 million in income tax in 2017-18.
The local Apple accounts were lodged ahead of the US giant announcing overnight Tuesday that it had returned to profit growth amid record global revenues.
Revenue rose 9 per cent to $US91.82 billion ($135.7 billion) for the three months to December 28 compared to the same period a year earlier as it benefited from sales of the iPhone 11.