Apple revealed in its fiscal Q1 earnings report that it has sold a record-breaking 74.5 million iPhones in Q4 2014. Those numbers are crazy, even by Apple standards. While their strongest competitors manage to sell that many Smartphones in an entire year, Apple did it in only 3 months.

As compared to the 51 million iPhones sold in Q4 2013, sales are up by a cool 13.5 million units or 46%. That's just insane! Also, the average selling price for the iPhone has risen by $50, to $687. We can attribute that to the higher cost of the iPhone 6 Plus.

Apple's revenue, in comparison, grew over 30% to $74.6 billion. In China, research firm Canalys reports that riding on the popularity of the iPhone 6 and iPhone 6 Plus, Apple has toppled Xiaomi as the leading Smartphone producer of the country. Xiaomi had snatched the top spot from away from Samsung only two quarters ago.

Recently, Xiaomi launched the impressive Mi Note and Mi Note Pro handsets that might give Apple some tough competition. The Chinese company is reportedly working on many ways to steal market share from the Cupertino company, including an iPhone-for-Mi Note exchange offer, which may be announced soon.