Apple has just reached a new milestone. The Apple iPhone has reached a staggering $1.95 trillion in lifetime sales, according to data from Stocklytics.com. This achievement comes despite a recent decline in market share due to competition from Chinese brands like Xiaomi and Huawei.
Speaking of which, the Apple iPhone shipments did to 50.1 million in Q1 2024. This is a decrease of five million compared to the same period last year. Also, the sales revenue dropped by nearly 10% to $45.9 billion. But despite all these, the iPhone’s long-term success remains pretty evident.
$1.95 Trillion In Lifetime Sales Is a Big Deal, and Apple iPhone Reached It for A Couple of Reasons
Apple’s ability to consistently innovate and update its iPhones has been key to this longevity. Since its debut in 2007, the iPhone line has been the company’s most successful product. Just five years after its launch, sales revenue reached $78.7 billion. This figure continued to climb, reaching $101.9 billion by FY 2014.
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Even during challenging economic periods, iPhone sales remained strong. For example, the sales were pretty solid during the pandemic in 2019 and 2020. In fact, they doubled and hit record highs in 2022 and 2023. During these two years, Apple raked in over $405 billion from iPhone sales alone.
This trend continued in the first half of FY 2024, with Apple grossing $115.6 billion from iPhone sales. This pushed the lifetime revenue to a remarkable $1.95 trillion. The iPhone’s share of Apple’s total revenue has also grown significantly. It rose from around 25% in Q1 FY 2009 to a staggering 50.64% in Q1 2024.
User loyalty is another factor contributing to the iPhone’s success. A Statista Consumer Insights survey revealed that 50% of iPhone users in the United States are very unlikely to switch to a different brand. To compare, Samsung had 44%, while Google had a mere 25%.
Apple may have recently lost its top spot in the smartphone market. However, the iPhone’s enduring popularity and immense lifetime sales solidify its position as a true tech giant.
