Apple Ships 2.3 Billion iPhones Over the Past Decade, Generating $1.65 Trillion in Revenue
Apple, the tech giant behind the popular iPhone, has shipped over 2.3 billion units of the device over the past decade, generating a massive $1.65 trillion in revenue, according to a new report by AltIndex.com.
In 2023 alone, Apple shipped 235 million iPhones worldwide, with 35% of users now owning one. This helped push the company’s cumulative iPhone sales revenue to record heights. The iPhone also became the most used smartphone globally last year.
Apple’s iPhone shipments have grown 53% from 153.4 million units in 2013. Meanwhile, top rival Samsung shipped 800 million more smartphones during the same 10-year period.
“Since its launch in 2007, the iPhone has been a crucial product for Apple, with its revenue share steadily rising,” the report stated.
iPhone sales accounted for a quarter of Apple’s total revenue in Q1 FY2009. By Q1 FY2024, that figure had jumped to 58%.
According to Statista and Apple financials, annual iPhone revenue has nearly doubled over the past decade. In FY2014, Apple grossed $101.9 billion from iPhones. Just four years later, that figure grew to $166.2 billion.
“After considerable drops in FY2019 and FY2020 when consumer spending declined amidst the pandemic, iPhone sales rebounded nearly 40% year-over-year, hitting $191.9 billion in FY2021,” the report added.