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Sales
Steve Jobs's initial target was to reach 1% of phone market share in 2008.[205] Apple sold 6.1 million units of the original iPhone between Q3 FY2007[note 4] and Q4 FY2008, and 11.3 million units of the iPhone 3G in Q4 FY2008 and Q1 FY2009.[206] In 2008, the iPhone reached 1.1% of worldwide mobile phone market share,[207] and 8.2% of the smartphone market.[208] During this time it was quickly becoming relevant in North America, and in market share was ranked second in the U.S. in 2009, behind the BlackBerry;[209] in 2010 the iPhone 3GS was the best-selling smartphone in the U.S., the first time that an iPhone device reached top spot in that market.[210] iPhone sales grew continuously year-over-year since its introduction until Q2 FY2016.[211][212] The iPhone briefly surpassed BlackBerry in Q4 FY2008,[213] and permanently overtook it starting in Q3 FY2010.[214] By 2011, Apple sold 100 million iPhones worldwide,[215] and became the largest mobile phone vendor in the world by revenue, surpassing long-time leader Nokia.[216] Q1 FY2012 marked Apple's best quarterly earnings in its history, with 53% of the company's revenues coming from iPhone sales.[217] Phone sales are strongly seasonal, peaking in the holiday season (Apple's Q1). With the release of the iPhone 13 in Q1 FY2022, Apple temporarily topped Samsung, with 84.9 million units shipped compared to Samsung's 68.9 million. In most quarters, Apple is the second largest smartphone vendor by units.[214][note 5] Apple sold 223 million iPhones in its financial year 2023 ending September 24.[218][219] Today, Samsung and Apple dominate the smartphone market, with 21.8% and 15.6% worldwide market share respectively.[220] Due to Apple's small lineup, Apple often dominates the list of bestselling smartphone models.[221][222] Despite its lower market share, the iPhone's premium positioning has led it to capture nearly half of global smartphone revenue,[223] and 80% of global smartphone profits, with Samsung taking the other 20%.[224] Carriers compete with each other to subsidize iPhone upgrades, which is seen as a significant factor in iPhone sales, though this has reduced carrier profits.[225] On July 27, 2016, Apple announced that it had sold their 1 billionth iPhone.[226] As of January 1, 2024, more than 2.3 billion iPhones have been sold.[227]
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