Apple grossed $1.65T on iPhone sales

APPLE’S iPhone has had a fantastic year in 2023, overtaking Samsung’s throne and becoming the most-used smartphone worldwide.

Last year alone, Apple shipped 235 million iPhones worldwide while 35 percent of all smartphone users owned the device. These impressive figures have helped iPhone cumulative sales revenue hit record highs.

According to data presented by AltIndex. com, Apple grossed a whopping $1.65 trillion from iPhone sales in the past decade.

Since its introduction to the market in 2007, the iPhone has been a crucial product for Apple, with its share in the company’s revenue constantly growing. Most of its accomplishments could be attributed to Apple’s ability to keep its smartphone competitive and deliver the right combination of user experience and status symbol appeal.

In Q1 FY 2009, iPhone sales accounted for about a quarter of Apple’s total revenue. This figure jumped to 58 percent in the first quarter of FY 2024. In terms of sold units, Apple went from 153.4 million in 2013 to 235 million in 2023, showing a 53 percent increase in a decade.

According to Statista and the official company data, iPhone annual sales revenue has practically doubled in the past 10 years. In FY 2014, the tech giant grossed $101.9 billion from iPhone sales. Four years later, this figure increased to $166.2 billion.

After a considerable revenue drop in FY 2019 and FY 2020, when consumers worldwide cut their spending budgets amid the pandemic, iPhone sales jumped by almost 40 percent year over year and hit $191.9 billion in FY 2021.

Still, that was nothing compared to 2022 and 2023, the record years for iPhone sales. During the two years, Apple grossed over $405 billion from selling iPhones, the highest figure to date.

Although revenue figures slightly dropped in the first quarter of FY 2024, iPhone sales still brought in almost $70 billion, pushing the total 10-year revenue to a whopping $1.65 trillion.

Besides practically doubling its revenue, iPhone annual shipments also jumped by 53 percent in the past decade.