Apple's Billion-Dollar Giant: iPhone Sales Outperformed All Other Segments by 25% Over a Decade

February 25, 2:55 pm

For nearly two decades, the iPhone has been the driving force behind Apple's (AAPL) success. The iconic smartphone has had a major role in creating a broader Apple ecosystem and building one of the most valuable and recognizable brands globally. However, it is also Apple's biggest money-maker, bringing more revenue than all its other products combined.

According to data presented by Altindex.com, Apple grossed a whopping $1.78 trillion from iPhone sales over the past decade, or 25% more than from all its other business segments combined.

iPhone Generated 3x more Revenue than Apple Services and 5x more than Mac

In 2024, people worldwide bought 1.23 billion smartphones, 6% more than the previous year. Apple's iPhone alone made around 20% of that figure, slowly catching up to its biggest competitor, Samsung. Although the iconic smartphone has been on the market since 2007, its sales skyrocketed in the past four years. Thanks to premium features like top-quality cameras and powerful chips, and seamless updates, iPhone users became hooked to their devices, fuelling steady revenue growth. The iPhone's rising popularity in markets like India further boosted sales, pushing its revenue to record highs, far above any other segment of Apple's business. The company's official data show just how big that difference is.

In 2024, iPhone sales hit $201 billion, the second-highest revenue to date, trailing only behind an all-time high of $205.5 billion in 2022. Apple services brought in around $96 billion, less than half of the iPhone's earnings. Other segments of Apple's business, including Mac, iPad, and wearables home and accessories, were far below these figures, bringing between $26 billion and $37 billion in revenue, or roughly seven times less than iPhone.

The long-term numbers are even more striking. Since 2014, Apple has earned a whopping $1.78 trillion from iPhones, or three times the revenue of Apple services, which brought in $558 billion. Mac sales reached $312 billion in the same period, or five times less than Apple's crown product. The iPad stands close to this figure, with $273 billion in revenue between 2014 and 2024.

iPhone Leads in Sales, but Apple Services Grow Faster

While the iPhone has been Apple's biggest revenue machine for years, the iconic smartphone loses race with Apple services when it comes to 10-year revenue growth. Over the years, the tech giant has created a variety of services to enhance its ecosystem, including Apple Music, iCloud, Apple Fitness+, Apple TV+, and Apple Arcade. By seamlessly integrating them with its devices, Apple has turned its services into a thriving revenue stream, growing much faster than the iPhone.

A recent AltIndex report showed Apple services revenue soared 433% in the last decade, growing four times faster than iPhone revenue, which increased by 97%. On the other hand, Mac sales increased by just 12%, while iPad saw a 10% decline. With the rapid growth of its services, Apple's revenue mix could look very different in the years ahead.

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