Apple
has achieved a new milestone in
iPhone
sales. As per data from Stocklytics.com (seen by Patently Apple), the Cupertino-based tech giant has about to reach the $2 trillion mark in iPhone's lifetime sales. This achievement comes after a recent decline in market share due to competition from Chinese brands like Xiaomi and Huawei.
Since its introduction in 2007, this has been Apple’s most successful product as the company keeps updating its smartphones with new models and features.
Apple’s iPhone sales over the years
As per Statista data, Apple grossed $78.7 billion from iPhone sales within five years after releasing the first mode. Two years later, in FY 2014, this figure jumped to $101.9 billion and continued rising.
The tech giant experienced several challenging years, especially in 2019 and 2020 when consumers worldwide reduced their spending budgets amid the pandemic. The report also
claims that iPhone sales have doubled and hit record highs in 2022 and 2023.
During those two years, Apple grossed over $405 billion from selling iPhones, the highest figures in its history. Despite the revenue figures dropping slightly in the second quarter of FY 2024, iPhone sales remain strong. Statistics show Apple grossed $115.6 billion from iPhone sales in H1 FY 2024, pushing its lifetime revenue to a whopping $1.95 trillion.
In Q1 FY 2009, Apple’s iPhone sales also accounted for about a quarter of Apple’s total revenue. Since then, this figure has more than doubled and hit 50.64% in Q1 2024.
How Apple is trying to regain its position in China
China is one of the biggest iPhone markets for Apple. According to a report by Counterpoint, Apple’s iPhone sales declined by more than 19% as Huawei saw 70% year-on-year growth in its smartphone sales in the country.
To increase iPhone sales in China, Apple reportedly launched an aggressive discounting campaign on its official Tmall website in China in May. With these discounts, the company aims to fight off growing competition from local brands like Huawei. The latest discounts were steeper than those offered earlier this year.
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