Not putting all eggs in one basket means, not concentrating hard on one business element and put all efforts in it because you may end up losing everything.
Apple has released its third-quarter 2019 earnings. According to The Verge, The company has earned $53.8 billion revenue but iPhone’s revenue dropped to $25.99 billion compared to $29.47 billion a year ago.
This means, the iPhone represented under half of Apple’s revenue and that is for the first time in 7 years since 2012, the iPhone revenue has dropped substantially.
The iPhone makes up less than half of Apple’s business this quarter but still, the company is growing and showing a profit, it doesn’t show any signs of stopping.
We usually resonate Apple success with iPhone success but the earning report suggests the opposite. The report tells, Apple is diversifying with a new range of product and services.
“This was our biggest June quarter ever — driven by all-time record revenue from services, accelerating growth from wearables, strong performance from iPad and Mac and significant improvement in iPhone trends,” Cook says in a press release.
Revenue from wearables such as Airpods, Mac computers and iPad resulted in huge profits. Revenue from Mac sales is reported to be $5.82 billion and iPads $5.023 billion. This is a rise from $4.634 billion last year.
What is the lesson here?:
The lesson is simple. Never put all eggs in one basket, could result in huge loss. Apple has diversified over the years and with so many wide ranges of products, even if the hot seller ‘iPhone’ fails to perform, the other products can still complement the main seller, do good and bring in huge revenue.
Who could have thought, wireless Airpods would play such a substantial role in Apple’s quarterly revenue?.
The company’s history of investing in unique products that consumers may like has not only made it a trillion-dollar company but it excites users to wait about new innovations and range of products the company has to offer each year.
Expected to launch in August, Apple Card could well contribute as one of the world’s most innovating products of 2019.
Every business should not be one-directional focused. Instead, there should be multiple investments in products and services to complement each other and contribute the revenue.
For entrepreneurs, there is a lesson too. Don’t focus on one idea only.
Think big, Think different, Think Apple.