Thirteen years ago today, Apple unveiled its first iPhone. Analysts expect cumulative iPhone sales to reach nearly 2 billion units by the end of the fiscal year. While Apple no longer discloses sales of its new iPhone, analysts expect the iPhone to sell nearly 2 billion units in the 13 years to the end of the 2020 fiscal year, ending in September.
Apple will sell about 195 million iPhones in fiscal 2020, up from about 186 million last year, according to an average estimate of eight analysts surveyed by Bloomberg. That would bring the iPhone’s cumulative global sales to about 1.9 billion units.
According to previous statistics, iPhones sold 1.39 million in 2007, 39.9 9 million in 2010 and 216.76 million in 2017. Apple sold more than 1.5 billion iPhones in fiscal 2018.
Thirteen years ago today, January 9, 2007, Apple co-founder Steve Jobs unveiled the first iPhone at the Macworld Conference in San Francisco. Although praised from the start, few could have predicted that it would sell more than 1.5 billion units in about a decade.
But now the iPhone business has changed a lot. While Apple is still relying on the launch of a new iPhone as the global smartphone market becomes more saturated, its business model is increasingly tied to the iPhone ecosystem.
In an effort to divert investors’ attention from individual sales of iPhones and other products, Apple stopped announcing sales of iPhones, iPads and Macs in early 2019.
If analysts’ forecasts are accurate, iPhone sales this year will be far lower than they were at the peak of 2015, 2016, 2017 and 2018. Still, Apple expects revenue to exceed $275 billion this year, a new record, thanks to its growing business model.
Of course, Apple’s product sales remain a major source of revenue. The iPhone accounts for the largest share. In addition, most of Apple’s service revenue growth is also due to the iPhone all over the world.
Later this month, Apple will report its new quarterly results. Apple is expected to report a strong quarterly performance with strong sales during the Christmas shopping season. Looking ahead, attention will be paid to Apple’s upcoming 5G iPhone.
Apple’s share stake has surged over the past year, driven by Wall Street optimism, adding more than $600 billion to its market value.