Home Science Technology Apple’s iPhone Hits US$1.95 Trillion in Lifetime Sales

Apple’s iPhone Hits US$1.95 Trillion in Lifetime Sales

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iPhones
iPhones

Despite recent market challenges, Apple’s iPhone has achieved a remarkable milestone, surpassing $1.95 trillion in lifetime sales.

In Q1 2024, Apple shipped 50.1 million iPhones, down from 55.1 million in the same period last year, leading to a nearly 10% decline in revenue to $45.9 billion. However, this drop did not overshadow the impressive lifetime sales figure.

iPhone Sales Resilience

Since its launch in 2007, the iPhone has been Apple’s flagship product, continually evolving to meet consumer demands. Five years post-launch, iPhone sales generated $78.7 billion, which jumped to $101.9 billion by FY 2014. Despite economic challenges during the pandemic years of 2019 and 2020, iPhone sales surged, reaching record revenues of over $405 billion in 2022 and 2023.

In H1 FY 2024, Apple grossed $115.6 billion from iPhone sales, contributing to the staggering $1.95 trillion lifetime revenue. The iPhone’s share of Apple’s total revenue has also increased, accounting for over 50% in Q1 2024 compared to about 25% in Q1 FY 2009.

Shipment and Brand Loyalty

Since 2007, Apple has shipped over 2.65 billion iPhones. In 2014 alone, shipments totaled 192.7 million, rising to 231.8 million by 2024. Despite the Q1 2024 decline, Apple shipped 130.6 million iPhones in six months, surpassing Samsung by 17 million units.

Apple leads in brand loyalty, with a Statista survey indicating that 50% of iPhone users are unlikely to switch brands, compared to 44% for Samsung and 25% for Google.

This data underscores Apple’s resilience and the iPhone’s enduring appeal, even amidst competitive pressures and market fluctuations.

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