How do iPhone and iPad Storage Upgrades Compare?

As we analyze drivers of Apple revenues and margins, last week we looked closely at how iPhone buyers upgrade storage. We showed that these upgrades have slowed down somewhat in recent periods.

Interestingly, Apple can’t persuade a significant percentage of iPad buyers to upgrade their base storage, either. The comparison is instructive and suggests a similar consumer perspective despite different use cases between the two product lines.

In the twelve months ending December 2024, less than half of iPhone buyers upgraded from base storage, with one notable exception (Chart 1). Almost two-thirds of buyers of iPhone 15 Pro and Pro Max models upgraded storage in that period. Note Apple replaced iPhone 15 Pro and Pro Max with the next generation iPhone 16 Pro and Pro Max near the end of the September quarter, so the data reflects only about three quarters of sales.