Will Apple's Switch To USB Type-C Impact It Financially? Explained

Since the introduction of Lightning port more than a decade ago, Apple has earned tens of millions of dollars per quarter, according to a Bloomberg report.

Apple made a major switch in its latest gadgets, including the iPhone that accounts for more than 80 per cent of the smartphone industry's profits. It is one of the most-talked-about thing in the tech world, since Apple earns a substantial revenue from the accessories that third party vendors make for its products. So, how does this change impact the revenue of Apple, one of the most profitable companies in the world.

Apple introduced Lightning port in 2012, with the launch of iPhone 5. It was a huge improvement compared to micro-USB interface, which was mainstream that time.

When accessory makers build peripherals and cables for iPhones, they need to apply for Apple's Made for iPhone (MIF) for certification. That certification is mandatory for an accessory to be sold through Apple's official retail channels.