According to Stocklytics.com, the product generated $69.7 billion, or 58% of the company’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 findings, Stocklytics Financial analyst Edith Reads emphasized: 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.
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. The full story and statistics can be found here: iPhone Sales Constitute Over 58% of Apple’s Revenue in Q1 2024, Highest Levels Since Q1 2021