Apple's iPhone is 60% of revenue, $1 trillion history

Apple introduced its 11th generation iPhone at its annual product release event Tuesday along with other new and improved products. Since the introduction of the world's first smartphone in 2007, the company has reaped more than $1 trillion in revenue and rode that wave to becoming one of the world's largest companies by market cap.

After its first full year on the market, the iPhone contributed about 6% of Apple's $32 billion revenue for the 12 months ending June 30, 2008. The following year saw those numbers jump to 30% and $42.2 billion, respectively. And according to Apple's most recent financial statement, the iPhone contributed 56.3% of Apple's $255.3 billion 12-month revenue as of June 30.

The iPhone's success built upon that of the now extinct iPod and has vastly overshadowed the company's other businesses. Its Macintosh brand computers, for example, made up 42% of the Apple's revenue at the time of the device's initial release. That number has since slid considerably to near 10%. The iPhone's success has propelled Apple from a computing also-ran into one of the world's largest companies — currently second only to rival Microsoft.