This product was truly Apple’s milk cow for the past few years, generating over $600 billion in revenue and about $100 billion in net profit. It’s mainly thanks to the iPhone that Apple became the most valuable company in the world, reaching $234 billion by September 2015.
Nevertheless the iPhone era seems to be slowly declining with Android-based phones entering the market with equivalent specifications and more competitive pricing. Particularly in emerging markets, the offer of low-cost smartphones is increasing very rapidly.
Apple also seems to have run out of inspiration in their latest iPhone models, with every version becoming more and more similar to the previous. Even the annoucement of a dual-screen iPhone to come in a few years’ time hasn’t generated much excitement.
Unsurprisingly, iPhone sales have been decreasing in the last two quarters and are likely to continue their descent. However, Apple has been attempting at deversifying its projects so, who knows, the company might well surprise us with innovations in yet untouched sectors.