It is no secret that the iPhone is Apple’s biggest money-maker at the moment simply because in the world that we live in, everyone has and needs a phone, and the iPhone is one of the hottest commodities to own right now. However in a report from Business Insider, it seems that in the next few years, the iPhone could soon be displaced.
The report cites Morgan Stanley analyst Katy Huberty who believes that in the next five years or so, the Apple Watch and some of Apple’s services could potentially overthrow the iPhone as Apple’s primary revenue growth driver. This isn’t to say that Apple’s iPhones will soon become a secondary focus for Apple, but rather according to Huberty, Apple’s revenue generator seems to be shifting more from the iPhone towards its services.
Based on her estimates, it is said that about 60% of revenue growth is attributable to services along with wearables like the Apple Watch, and that this will “will drive almost all of Apple’s growth over the next five years.” This is interesting because just last month, another analyst opined that Apple should launch a subscription service for software and hardware.
Apple has also recently acquired Texture, a magazine subscription service dubbed the Netflix of magazines. This will no doubt help boost their revenue too, unless they plan on scrapping it and creating something new.
Filed in . Read more about Apple Watch, iPhone, Smartwatch and Wearable Tech.