52% of Apple's Revenue Is Still Coming From iPhone Despite Diversification
Apple has been trying for years to diversify its product range and ultimately diversify its revenue generation as well. However, new data reveals that around 52% of Apple's revenue is still coming from the sales of iPhones (new and old models). But considering the past, Apple has managed to diversify around 48% of its revenue away from iPhone sales!
After the sales of the iPhone, the next biggest revenue generator for the tech company is the services sector. The revenue from Apple's services sector is so good that it even beats the sale of physical products and hardware!
This data was recently revealed in an infographic that showed that around $191.7 billion (USD) of Apple's revenue is still coming from iPhone sales. While some people view it as a good thing, there are many who believe that Apple is too reliant on a single product.
We have already seen time and time again how products go through different life cycles and eventually die out. In fact, a close look at the Facebook social platform reveals exactly that! That's why Apple is also plagued by lower-than-expected iPhone 14 sales!
Services Sector Makes 19% Of Apple's Profit
The 2nd contributor to revenue of Apple is the services sector which generates 19% of the revenue! iPad, which was once a famous device offered by Apple, has been slipping away from consumers' minds and is on the verge of death.
Overall, the company made around $31.9 billion from the services sector, which is still a small value when compared with the $191.7 billion derived from iPhone sales.
Another big product in terms of revenue generation for Apple was the Mac which helped the company make $38.4 billion during the year. In fact, Apple's new M2 Macbook Air was so good that it had made other laptop makers worried that their customers would move towards that!
Next year, we will be able to get a better look at how the new iPhone 14 has managed to bring in the bulk of the revenue. Furthermore, we may see more diversification of the revenue driven by different Apple products!