The iPhone has helped Apple Inc. move up 69 places in 10 years to become the most valued listed company in the world. The Cupertino-headquartered company is all set to unveil the eighth variant of the company’s flagship phone.
How Important Is The iPhone?
Less than 3 percent of Apple’s revenue came from phones in 2007. It made up for nearly 65 percent of its total revenue by the end of 2016. The iPhone’s sales proceeds grew more than 200 times to $136.7 billion over the same time period.
The average sale price per unit has also increased 42 percent from $453 in 2007 to $645 in nine years.
Apple sold more than 200 million iPhones last year, compared to 1.38 million units in 2007, according to the company filings.
La Decima Year
Apple has already sold more than 90 million iPhones this year. The company has invited journalists to the first-ever event at the Steve Jobs Theatre on September 12 where the world will be waiting to see what else it will offer beyond the ‘no home button’ feature on iPhone’s eighth avatar, after all its celebrating 10 years.
(Corrects an earlier figure for iPhone’s sales proceeds in 2016.)