Despite a slight dip in sales during the first quarter of 2024, Apple’s lifetime iPhone sales have reached an impressive $1.95 trillion. While smartphone shipments and sales revenue declined in Q1, Apple’s long-term success in the iPhone market is evident from the significant revenue growth since the first iPhone’s release in 2007. With over 2.65 billion iPhones shipped globally, Apple continues to lead the smartphone industry.
In the first quarter of 2023, Apple’s iPhone sales in China plummeted by 19.1%, while Huawei experienced a significant surge of 69.7% in smartphone sales. Huawei’s resurgence is attributed to the launch of its Mate 60 model and the lifting of US sanctions. Apple’s shares have remained flat in premarket trading but have declined over 10% in 2023. Huawei’s comeback has impacted Apple’s sales in the premium segment and subdued replacement demand for iPhones.
