“For all the attention Apple has received this year for its new smartwatch and music service, or rumors about an updated TV device and building a car, the company is increasingly dependent on the iPhone,” Adam Satariano and Alex Tribou report for Bloomberg.
“Since the handset was introduced in 2007, the company has never collected as large a percentage of its revenue from one product as it’s doing now [almost two-thirds of the company’s revenue] — even as new products and services are introduced,” Satariano and Tribou report. “The device’s position at the center of Apple’s orbit will be on display Sept. 9 when Chief Executive Officer Tim Cook introduces new models at the Bill Graham Civic Auditorium in San Francisco.”
“The revenue dominance raises the stakes for Cook to keep the company’s marquee handset a top seller. Apple’s stock has slid in recent months in part on concerns about future growth, particularly about iPhone demand in China,” Satariano and Tribou report. “It’s a dilemma any CEO would love to have: The iPhone generated $102 billion in sales in Apple’s last fiscal year, more than Google, Facebook, and Twitter’s annual revenue combined.”
Read more in the full article here.
MacDailyNews Take: No, because iPhone has a very long, very bright future. iPhone is a device that is frequently updated and is capable of driving sales of other devices including Apple Watch, iPad, Mac, Apple TV and services including Apple Music, iCloud storage, iTunes Store content sales and rentals, App Store sales, iAd and much more.