Apple has sold 3 billion iPhones since the product launched in 2007, according to Apple CEO Tim Cook during the company’s third-quarter earnings call. It took Apple nine years to sell its first billion iPhones, a milestone reached in 2016. The company then sold an additional 2 billion iPhones over the next nine years, highlighting the product’s continued growth in popularity.
Despite celebrating this achievement, Apple has faced challenges in the stock market this year. The tech giant has fallen behind Nvidia and Microsoft as the market’s most highly valued companies. However, a bright spot for Apple is that iPhone sales exceeded expectations this quarter.
Sales of the iPhone, Apple’s most popular product, rose 13% year-over-year, generating $44.6 billion in revenue. This accounts for nearly half of the company’s total quarterly revenue, which reached $94 billion.
The surge in iPhone sales may be temporary. Apple expert and Bloomberg managing editor Mark Gurman suggested that increased sales could be linked to consumer concerns over potential price hikes due to former President Trump’s tariff plans. Gurman noted that rumors of iPhones costing $3,000 or more if manufactured in the U.S. may have driven higher sales in the June quarter.