Apple captures the vast majority of iPhone storage upgrade revenue, consistently pocketing 8 to 15 times more in pure profit than flash memory producers actually make on the hardware in last two decades. Only in 2026 were manufacturers finally able to catch their breath a little, having been freed from oppressive, low-profit contracts.

"Apple recorded an average gross profit of more than 80 cents for every dollar it charged iPhone and iPad buyers for extra storage since it first released those devices through 2025, the Journal found. For Mac computers sold since 2010, it averaged nearly 80 cents."