Apple's big iPhone X gamble pays off with 16 million units sold worldwide in the first quarter of 2018, according to data from Strategy Analytics, making it the best-selling smartphone in that period.

The iPhone X was a huge gamble for a number of reasons. One, it was the most radical iPhone yet, featuring a new "notch" design and an OLED display Apple had to order from Samsung. Two, it introduced Face ID, a state-of-the-art facial recognition system so secure and accurate that Apple got rid of Touch ID. Three, it costs $1,000.

Sales figures now prove those didn't matter for buyers. The news also comes after increasing speculation that the iPhone X was flopping, or wasn't meeting Apple's expectations in terms of sales.

Apple Takes Top Spot In Worldwide Smartphone Sales

Once again, Apple is the king of smartphones. The top four models in terms of shipments and market share are iPhones — taking the number two, three, and four spots are the iPhone 8, iPhone 8 Plus, and iPhone 7, respectively. In terms of market share, the iPhone X represents 4.6 percent of all smartphones sold in the given period.

The report states that 345 million smartphones were sold globally in Q1 2018. In fifth place is the Xiaomi Redmi 5A at 5.4 million units, followed by the Samsung Galaxy S9 Plus at 5.3 million units.

It's worth noting that Apple does not release sales figures for individual iPhone models, but the company confirmed in this week's earnings that it sold 52.2 million iPhones, with the iPhone X selling the most units out of all the models throughout the quarter.

"Customers chose iPhone X more than any other iPhone each week in the March quarter, just as they did following its launch in the December quarter," said Apple CEO Tim Cook. "Since we split the line with the launch of iPhone 6 and 6 Plus in 2014, this is the first cycle in which the top of the line iPhone model has also been the most popular."

iPhone X In Q2

Despite the success, rumors say Apple will produce only 8 million iPhone X units for the second quarter of 2018, Fast Company reports. The article suggests that Apple's production cut is the result of lukewarm sales, and that the company may focus on selling off an accumulated inventory of unsold iPhone X units.

Apple is expected to unveil three new iPhone models later this year, one of which is allegedly a cheaper iPhone with a 6.1-inch LCD screen.

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Tags: Apple iPhone X