Apple CEO Cook: 5G promotion is still in the "early stages"

Apple CEO Tim Cook believes that 5G promotion is still in the "early stages". iPhone sales will continue to grow thanks to increased demand for the technology. Consumers can now buy the iPhone 12 around the world, but many markets do not have any form of 5G. Apple expects demand for 5G-enabled iPhones to remain strong in the future due to the current low penetration of 5G.

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The fastest 5G technology right now, so-called millimeter wave (mmWave), is only available on iPhones in select cities in the U.S. Apple won’t enable the technology outside the U.S., even if other countries have the spectrum.

iPhone sales in China have also been attributed to a surge in 5G demand, but Apple still only accounts for a small portion of this massive market. "We are in the early stages of 5G, with only a few countries seeing double-digit growth," Cook said during Apple's third-quarter 2021 earnings call.

Despite analysts' skepticism about the iPhone's continued growth, Cook said, "We're very optimistic about the future of iPhone."

The third-quarter financial report showed that Apple once again broke the revenue record. iPhone sales in the quarter reached US$39.6 billion, an increase of 52% from US$25.98 billion in the same period of 2020.

Apple is expected to expand its 5G product lineup, including the launch of the 5G-enabled iPhone SE and "iPhone 13." As Apple continues its growth push, the company may also expand millimeter wave support to other countries.