Apple already has a dedicated business division focused on services. Through it, it covers iCloud cloud storage services, Apple TV+ content business, Apple Music, Apple Arcade, Apple Care subscriptions, in addition to generating profits through search engine licensing and also payments through Apple Pay.
The service segment has been announced as a separate segment since last 2016 in every annual statement, and now in 2024, the segment is set to reach $100 billion in revenue.
With the closed ecosystem method, Apple managed to generate additional income from the buyers of their devices, when subscribing to a number of services provided. In fact, since most services are recurring payments, this ensures that Apple receives continuous income from a customer.
Apple today has over 2 billion active devices including smartphones, tablets and computers, while the number of users subscribing to the service has exceeded 1 billion.