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❗ ❗ While the spotlight is on the new iPhone 15 series launch, it's worth noting that Apple's services are now the second-largest revenue stream after the iPhone.

Apple's services division, encompassing Apple Pay, Apple Music, Apple TV+, and the App Store, among others, achieved an all-time revenue peak in the fiscal 2022. Over the past ten years, Apple's services revenue soared from $12.8 billion to $78.1 billion, thanks to its vast base of more than two billion active devices and continuous investment in new service offerings. The company has now amassed one billion paid subscriptions, nearly doubling its count from three years ago.

Although traditionally identified as a hardware-centric company, Apple has taken substantial strides to expand its services sector in recent years. This shift is driven by the evident challenges posed by lengthening replacement cycles for smartphones, tablets, and other devices, as groundbreaking innovations have become increasingly scarce, making it progressively more challenging for a company of Apple's caliber to sustain its remarkable revenue levels.

Let's take a retrospective look at Apple's 10-year journey of services development through my visualization. Please share your thoughts on this post so that I can make improvements in the future. 😁

Source: - Apple's Financial Report 2012 - 2022 - Statcounter