Apple's iPhone Hit Over $1.95 Trillion in Lifetime Sales

Just one quarter after taking first place in the smartphone market, Apple lost its spot due to tough Chinese competition from brands like Xiaomi and Huawei. In Q1 2024, the iPhone maker shipped 50.1 million of its smartphones, five million less than in the same period a year ago, while iPhone sales revenue dropped by almost 10% to $45.9 billion. But despite the apparent decline in the first three months of the year, iPhone lifetime sales still climbed to shocking highs.

According to data presented by Stocklytics.com, the tech giant Apple has grossed more than $1.95 trillion from iPhone sales so far.

iPhone Sales Remain Strong Despite the Q1 Drop

Thanks to Apple‘s ability to keep its smartphone competitive with new releases and updates, the iPhone has been the tech giant’s most successful product since its introduction to the market in 2007. Since then, iPhone sales revenue has skyrocketed.

According to Statista and the official company data, five years after releasing the first iPhone, Apple grossed $78.7 billion from iPhone sales. Two years later, in FY 2014, this figure jumped to $101.9 billion and continued rising. Although the tech giant experienced several challenging years, especially in 2019 and 2020, when consumers worldwide cut their spending budgets amid the pandemic, iPhone sales practically doubled and hit record highs in 2022 and 2023.  

During the two years, Apple grossed over $405 billion from selling iPhones, the highest figures in its history. Although revenue figures dropped 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.

iPhone’s revenue share has also increased significantly over the years. For instance, in Q1 FY 2009, iPhone sales 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.

Over 2.65 Billion iPhones Shipped Since 2007

For years, the iPhone has been delivering its users with the right combination of user experience and status symbol appeal, which helped its shipment numbers to skyrocket. In 2014, the tech giant shipped 192.7 million of its smartphones. Ten years later, this figure jumped to 231.8 million. Although iPhone sales dropped in Q1, Apple still shipped 130.6 million of its smartphones in six months, or 17 million more than Samsung.

Moreover, according to a Statista Consumer Insights survey conducted among nearly 10,000 smartphone users in the United States, Apple is the king of brand loyalty in the smartphone field.  When asked how likely they were to change to a different smartphone brand, 50% of iPhone users said this was very unlikely. In comparison, Samsung had 44% of loyal smartphone users who were willing to stick to the company in the future, while Google had only 25%.