The iPhone’s inception took place in 2007, and since then, it has cemented its position as Apple’s primary contributor to the technology giant’s annual revenue. During the company’s Q4 2024 earnings, where it generated $90.75 billion in revenue, the iPhone made up $45.96 billion of the total, or 50.69 percent of the overall figure, highlighting its significance in Apple’s growth. Now, this product line has achieved a new milestone, with the latest statistics revealing that it has reached nearly $2 trillion in lifetime sales.
Statistics show that FY 2022 was Apple’s best year for iPhone sales, with the figure estimated to have reached $205.4 billion
Data from Stocklytics.com and Statista state that the iPhone has accumulated a whopping $1.95 trillion in lifetime sales. However, with the recent rise of Huawei and other Chinese brands, it looks like the figure of nearly $2 trillion will witness a slower rise as Apple’s market share has been eroded recently. In Q1 2024, IDC reported that the Cupertino firm experienced a 10 percent decline in iPhone sales, losing its top spot to Samsung. Then again, what the iPhone range has achieved in this 17-year timespan is nothing short of remarkable.
Apple’s best year in terms of iPhone revenue came in FY 2022, when this segment brought in $205.4 billion in revenue. Its second-best year was the following one, when the iPhone generated $200.5 billion in sales. Later this year, Apple will announce four new iPhone 16 models and introduce generative AI capabilities for the first time. Unfortunately, to experience those on-device and cloud-based AI features, an iPhone 15 Pro or an iPhone 15 Pro Max will be required as the bare minimum.
Even with these additions, few analysts are skeptical of the iPhone 16 lineup’s success, with Ming-Chi Kuo predicting that Apple could suffer up to a 15 percent shipments decline this year due to a lack of differentiation between the older models and the upcoming ones. Furthermore, Huawei’s persistence in China can adversely impact Apple’s total shipments, so it needs to deliver some compelling features to ensure that its iPhone 16 carries the same momentum as its previous releases to cross that $2 trillion lifetime sales figure.
About the author: Omar Sohail is a reporter and analyst for Wccftech's mobile section, specializing in the technology and business of the mobile industry. His expertise lies in the intricate hardware supply chain, covering developments in semiconductor manufacturing, chip lithography, and camera sensor technology.
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