How Apple makes billions of dollars selling services [The Verge]
Apple Inc. (AAPL)
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Source: The Verge
How Apple makes billions of dollars selling services ’s focus is shifting. In recent years, iPhone sales have begun to plateau, and now ’s services business — which encompasses everything from the App Store to licensing deals — is being positioned as its next big frontier for revenue growth. More than ever, wants to sell people constant, ongoing subscriptions for things they can do on their phones. That new direction is going to be thrust into the spotlight next week at ’s “It’s Show Time” event ’s services business brought in over $10.9 billion during the most recent quarter, setting records in “every geographic segment” in the process, according to CEO Tim Cook. Cook also said that is on track to double its services business from 2016 to 2020. Last quarter saw a 19 percent increase year over year. It’s a substantial figure compared to ’s other business segments: services already brings in more per quarter than the Mac ($7.4 billion last quarter), iPad ($6.7 billion), or the colle
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