The world’s largest technology company has just reached an impressive new milestone, as it has crossed 2 billion active iPhones, iPads, Macs and other hardware devices in use across the globe. This comes as a result of strong iPhone, iPad and Mac sales as well as record services revenue, according to the latest Apple quarter earning reports.
Apple reported quarterly revenue of $117.2 billion, down 5 percent year over year, and quarterly earnings per diluted share of $1.88. More than half of the iPhone’s revenue is now coming from services.
Services is an important area for Apple, as it is expected to grow at a compound annual rate of 15% over the next four years. This is primarily because of the increasing number of subscriptions to apps and services on the iOS platform.
A lot of these users may not be buying new iPhones, but they could be upgrading their existing models as they get older, a trend that analysts and Apple are watching closely. In fact, a third of Apple’s total users have an iPhone that is older than two years old, according to analyst Brian Long.
This is a significant percentage and it is something that is likely to continue, according to Long.
Despite the growing popularity of Android devices, Apple has held on to its lead in global smartphone marketshare and continues to dominate the iOS platform with its iPhone. This is why it’s so important to have a strong ecosystem of services and subscriptions available on iOS. This will allow Apple to retain the momentum it has built over the past decade and continue to grow its business.
