In 10 years, Apple earned $1.65 trillion from iPhone sales: Report

Tech giant Apple grossed a whopping $1.65 trillion from iPhone sales in the past decade, a new report has revealed.

Last year, the tech giant shipped 235 million iPhones worldwide, while 35 per cent of all users owned the device, helping the company's cumulative sales revenue hit record highs.

Apple's iPhone also became the most-used smartphone globally in 2023.

According to data presented by AltIndex.com, in terms of sold units, Apple went from 153.4 million in 2013 to 235 million in 2023, showing a 53 per cent increase in a decade.

Apple's total iPhone shipments in the past decade has touched 2.3 billion. In comparison, its biggest rival, Samsung, shipped 800 million more smartphones in this period.

“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,” said the report.

In Q1 FY 2009, iPhone sales accounted for about a quarter of Apple's total revenue.

This figure jumped to 58 per cent in the first quarter of FY 2024.

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, said the report by AltIndex.com.

“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 per cent year-over-year and hit $191.9 billion in FY 2021,” it added.