iPhone sales generated $69,7-billion, or 58% of Apple’s total revenue, in the first quarter of 2024. This marks the highest proportion of revenue attributed to iPhone sales since the first quarter of 2021.
Reflecting on the Stocklytics findings, financial analyst Edith Reads says: “Apple has sold billions of iPhones and raked in hundreds of billions of profit, on the strength of its iPhone 15 lineup, which includes devices capable of capturing three-dimensional video for the Vision Pro headset.
“This has transformed Apple’s flagship product line from a niche product for early adopters to a dominant economic force.”
She points out that, since its debut in 2007, the iPhone has emerged as a vital product for Apple, steadily claiming a growing share of its revenue.
“This success can be attributed to its unique blend of user-friendly design and status symbol appeal.”