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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.
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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
