For years, critics have been proclaiming that the iPhone reached its peak. And for years, Apple has been proving those critics wrong. Most recently, Apple’s Q2 earnings report revealed that the iPhone accounted for upwards of $51.3 billion in revenue. This staggering figure marks the highest revenue Apple has ever generated from the iPhone during the March quarter.
Apple’s ability to keep iPhone revenue at record levels is due to a few factors, including an influx of switchers coming over from Android. According to a new research report from Consumer Intelligence Research Partners (CIRP), the rate at which Android users are switching to the iPhone is currently higher than it’s been in 5 years.
The report specifically found that 15% of all iPhone purchases over the last year came from Android users making the switch. Notably, the percentage of Android users switching over to the iPhone hasn’t reached the 15% mark since 2018. As a point of interest, Android users accounted for 21% of new iPhone purchases back in 2016.
CIRP’s full data is viewable below:
Apple’s ability to boost iPhone revenue is especially impressive given that upgrade cycles have elongated in recent years. The days of consumers buying new iPhone models every two years are long gone. Still, Apple has managed to boost revenue due to a variety of factors.
Aside from Android switchers, the average selling price of the iPhone has steadily increased in recent years. This is largely due to increased demand for Apple’s more margin-friendly iPhone Pro models. And this, of course, is the result of Apple keeping its more advanced features and technologies exclusive to its iPhone Pro line.
Specifically, the average selling price of the iPhone in 2023 is about $988, compared to $825 just two years prior.
Not surprisingly, Apple’s tendency to reserve its more exciting features for new iPhone Pro models isn’t going to stop anytime soon. Looking ahead, the upcoming iPhone 15 Pro may be the first iPhone to boast a periscope camera. This feature would impressively improve optical zoom capabilities.
You can check out our recap of what the iPhone 15 will likely bring to the table over here.