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Apple’s Smart Cover Business Alone Is Worth $2 Billion A Year

Apple’s Smart Cover Business Alone Is Worth $2 Billion A Year

These plastic-coated magnet wafers make Apple $2 billion a year.

Apple’s iPad Smart Cover is a wonderful product. Not only is it pretty much the most minimal yet versatile iPad case around, it’s fun, attractive aesthetic — inspired by Japanese bath covers — hides some serious engineering beneath the surface thanks to its 30+ odd magnets.

So it’s a great product. Did you know that for Apple, though, Smart Covers alone are a $2 billion a year business?

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