Tech giant could hit $1 trillion from a decade of iOS revenue in 2017

Apple solld its 1 billionth iPhone not too long ago and the iOS empire is on course to cross the $1 trillion revenue mark in 2017, according to a report by Asymco, a market intelligence firm.

The report also says the iPhone will have sold at least 1.2 billion units by the end of this year (2017 makes it 10 years since the iPhone was launched), making it the "most successful product of all time."

"In its first 10 years, the iPhone will have sold at least 1.2 billion units, making it the most successful product of all time. The iPhone also enabled the iOS empire which includes the iPod touch, the iPad, the Apple Watch and Apple TV whose combined total unit sales will reach 1.75 billion units over 10 years. This total is likely to top 2 billion units by the end of 2018," the report said.

ALSO READ: See what happens when you feed Apple's newest phone to an alligator

Asymco also says that, if all predictions are accurate, revenue from iOS product sales will hit $980 billion sometime in the middle of 2017. Another $100 billion is also expected to enter Apple's coffers from iOS services revenue, meaning Apple would have made about $1 trillion from iOS in the last decade.

Furthermore, about $60 billion has been paid to iOS developers by Apple - a rate that has now climbed to about $20 billion per year.